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Promoter of Adani Power Ltd has successfully divested marginal stake of 1.63 per cent stake in the company through offer-for-sale. The offer was fully subscribed at a clearing price of Rs 54.20 a share. On Monday, the shares of the company closed at Rs 52.25 on the BSE.
The promoter of Adani Power Ltd, Adani Agro Private Ltd, offered to sell 3.56 crore shares, for which it received bid for 4.93 crore shares.
Based on the minimum bidding price, the offer would fetch about Rs 193 crore to the promoter.
Promoter, who currently holds 76.63 per cent stake in Adani Power, is diluting the stake in the company to meet SEBI’s minimum public holding criteria.
This was the eighth successful offer for sale issue on the BSE. Other issues include ONGC, Wipro, JP Ventures and DB Corp Ltd.
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