REUTERS - The founders of Adani Enterprises Ltd (ADEL.NS), a trading firm, have set the floor price at 227 rupees per share to sell about 16 million shares on Thursday to meet the market regulator’s directive on minimum public shareholding.
According to the new rules, founders of listed Indian companies cannot own more than 75 percent of the listed entity. The deadline is June-end.
Adani Enterprises shares closed at 219.55 rupees on Wednesday.
Reporting By Harichandan Arakali in BANGALORE; Editing by Prateek Chatterjee