Adani Enterprises completes Offer For Sale

India Infoline News Service | Mumbai |

The Offer was oversubscribed 1.04 times at a clearing price of Rs. 283/- per share.

The promoters of Adani Enterprises Ltd (the “Company” listed on both BSE (Group A/BSE 100) and NSE) have successfully completed the Offer For Sale (OFS) issue of 2,30,00,000 equity shares of face value of Re. 1 /- exclusively through BSE OFS mechanism on 21st December, 2012.

BSE was appointed the Designated Stock Exchange for the issue. The OFS issue was solely conducted on BSE’s Internet Based Book Building System (iBBS). The Offer was oversubscribed 1.04 times at a clearing price of Rs. 283/- per share.

The Exchange had made live the OFS module on iBBS (Internet based book building System) on 24th February, 2012. In line with the revised OFS guidelines issued by SEBI on July 18, 2012 via circular no. CIR/MRD/DP/18/2012, the Exchange had implemented and launched the new version of OFS platform on iBBS on 1st August, 2012.

Prior to Adani Enterprises Ltd, 20 companies including 3 PSUs have successfully completed their equity offer for sale issues through BSE OFS mechanism. Out of these 20 OFS issues BSE was appointed as the Designated Stock Exchange for 18 issues (90% of the issues).

Further, of these 20 issues 6 OFS issues namely, Parag Shilpa Investments Ltd, Muthoot Capital Services Limited, Sical Logistics Limited Adani Power Ltd, Xchanging solutions Ltd, DISA India Ltd. and STI India Ltd are ones that successfully completed their OFS issues exclusively on BSE iBBS OFS platform.

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