Adani Green Energy promoters to sell stake worth ₹400 cr via OFS
Mumbai: Adani Group’s renewable energy company Adani Green Energy Ltd on Tuesday said its promoters led by Gautam Adani will sell a 5.98% stake in the company through an offer for sale (OFS).
The stake sales are being planned to bring down the promoter shareholding in the company to 75% to meet norms of the Securities and Exchange Board of India on minimum public shareholding, which require listed companies to have at least 25% public shareholding.
As of 31 March 2019, the promoters of Adani Green Energy held 86.5% stake in the company.
The promoters, including Gautam Adani, Priti Adani, and Rajesh Adani, aim to collectively sell 93.5 million shares of the company, according to a regulatory filing.
