Private electricity utility Adani Power is planning to issue shares to promoters or promoter Group on preferential basis. In this regards, the company’s board will meet on March 23 to take any further decision.
At the end of the October-December quarter, promoters held 68.32% stake in the company.
Recently, the company’s shareholder Mavi Investment Fund has offloaded 46 lakh shares of the company at an average price of Rs 47.25, valuing the deal to Rs 21.73 crore. The shares were purchased by Vinodbhai Shantilal Adani NRE.
