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Adani Power allots shares to promoter group

Our Bureau Ahmedabad | Updated on May 28, 2013 Published on May 28, 2013

Adani Power Ltd, a subsidiary of Adani Enterprises Ltd and part of Adani Group, on Tuesday made an allotment of 47,86,50,000 equity shares of Rs 10 each at a price of Rs. 53.11 per share (including premium of Rs. 43.11 per share) to the promoter group on preferential basis.

The said preferential issue was made in accordance with the prevailing SEBI regulations, according to a company release here. 

Out of 47,86,50,000 shares, Adani Enterprises Ltd (promoter- holding company) and  Vinod S. Adani (part of promoter group) were allotted 44,98,50,000 shares and 2,88,00,000 shares, respectively.

Consequent to the said allotment, paid up share capital of Adani Power Ltd. has increased to  Rs 2,871,92,21,100 (287,19,22,110 equity shares of Rs 10/- each) and the stake of promoter group in Adani Power Ltd has increased from 70 per cent to 75 per cent.

Published on May 28, 2013
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