PTI reported that Adani Enterprises’ promoters have fixed INR 282 as the floor price for selling the company’s 2.3 crore shares, a move which may help them garner around INR 650 crore by selling a little over2% stake.

The sale shall take place on the separate window of the stock exchanges. It will commence tomorrow at 0915 hrs and close on the same day at 1530 hrs.

Adani in a stock exchange filing said that “The sellers have submitted a notice to sell 2.3 crore equity shares of the face value of Re one only each held by them in the company through the stock exchange mechanism. In this regard, the floor price for the sale is INR 282 per equity share of Adani Enterprises.”

As on September end, the promoters are Adani Agro, Adani Commodities, Vinod S Adani, Rajesh S Adani, Pranav V Adani, Priti G Adani and Shilin R Adani. Promoters’ had 79.96% stake in the company.

It said that “The sale is personal to each prospective bidder who makes a bid and does not constitute an offer or invitation or solicitation of an offer to the public requiring any prospectus offer document to be filed with any regulatory authority within or outside India.”