Adani Enterprises Ltd.

Adani Enterprises is currently trading at Rs. 221.75, up by 2.60 points or 1.19% from its previous closing of Rs. 219.15 on the BSE.

The scrip opened at Rs. 225.00 and has touched a high and low of Rs. 225.00 and Rs. 220.05 respectively. So far 137213 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 296.90 on 19-Dec-2012 and a 52 week low of Rs. 151.70 on 31-Aug-2012.

Last one week high and low of the scrip stood at Rs. 233.00 and Rs. 214.90 respectively. The current market cap of the company is Rs. 24388.29 crore.

The promoters holding in the company stood at 76.46% while Institutions and Non-Institutions held 19.87% and 3.68% respectively.

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.