India: Promoters of Adani Green Energy to sell 5.98% stake via OFS

India: Promoters of Adani Green Energy to sell 5.98% stake via OFS

Adani group chairman Gautam S. Adani. Photographer: Tomohiro Ohsumi/Bloomberg

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.

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