Adani Enterprises Ltd.

Adani Enterprises’ founders have set the floor price for its proposed Offer for Sale (OFS) at Rs 227 per share, which is nearly 4% premium to the closing price of Rs 219.15 of company’s stock as on May 29, 2013 on the BSE. The company proposes to sell about 1.6 crore shares via OFS, to meet the market regulator SEBI's directive on minimum public shareholding.

According to the new rules, founders of listed Indian companies cannot own more than 75% of the listed entity and the deadline for doing so is June end. Further, the OFS, which will take place at the separate window of BSE, will commence on May 30, 2013 and close on the same day.

Adani Enterprises (AEL) is the flagship company of the Adani Group, it is the country's largest coal importer-turned-domestic private mine developer-cum-operator (MDO). The company is truly a diversified asset backed commodities trader, sourcing, producing, marketing and transporting them across the globe.