Adani Green Energy gains 5% on debut, trades at Rs 29 on BSE
Adani Green Energy, the renewable power arm for Adani Enterprises, has locked in upper circuit of 5% at Rs 29.40 on the BSE.
Adani Green Energy, the renewable power arm for Adani Enterprises, has locked in upper circuit of 5% at Rs 29.40 on the BSE on first day of its listing. The stock recovered 9% from its intra-day low of Rs 27, after opening at Rs 28 on the BSE.
On the National Stock Exchange (NSE), the stock trading at Rs 31, after opening at Rs 30. The stock hit a high of Rs 31.50 and a low of Rs 28.50 so far.
Till 10:58 am; a combined 4.74 million shares changed hands and there were pending buy orders for around 352,328 shares on the BSE and NSE.
Pursuant to the scheme of arrangement between Adani Enterprises Ltd (AEL) and Adani Green Energy Limited (AGEL), renewable power undertaking of AEL has been transferred to and vested in AGEL.
In consideration of the demerger, AGEL allotted 761 fully paid up equity shares of Rs 10 each of AGEL shall be issued and allotted for every 1000 fully paid up equity shares of Re 1 each held in AEL.
Source: business-standard
