InvestorQ : Why Adani Green is going for Offer for Sale (OFS)?
Tanu Shukla made post

Why Adani Green is going for Offer for Sale (OFS)?

Sakshi Malhotra answered.
2 years ago

Adani Green is planning to float 5.59% of its promoters' stake to the public to bring down its stake through the OFS. This decline in stake is done to meet the public shareholding norm. According to the Securities and Exchange Board of India’s (Sebi’s) regulation, a listed company should necessarily maintain a public shareholding of at least 25%. As a result, 2 promoters- Adani Tradeline LLP and Universal Trade and Investment are selling their stake worth of 87.5 million equity shares at Rs 43 per share. The subscription for OFS will for non-retail investors started on Tuesday 21st May 2019 and for retail investors, it started today, that is Wednesday 22nd May 2019. The script was subscribed 43% on day one.