Adani OFS subscribed 1.04 times

Written by fe Bureau | Mumbai | Updated: Dec 22 2012, 07:15am hrs
Promoters of Adani Enterprises successfully diluted 2.09% stake or 2.3 crore shares via offer for sale (OFS) to comply with the minimum public shareholding norms that require the promoter holding to be brought down to 75%.

The issue was subscribed 1.04 times. According to BSE data, the issue received bids for 2.38 crore shares against the offer size of 2.3 crore shares at a clearing rate of R283 per share. Based on the clearing rate, the promoters have raised a little over R650 crore.