The proposed share sale is a part of the stressed assets resolution plan Simplex Infrastructure is preparing, the report said.
Simplex Infrastructures share price was locked at 5 percent upper circuit on February 20 following reports of Adani Group is buying equity stake in the company.
Adani Group is considering to buy an equity stake in Simplex Infrastructures, according to a report by The Economic Times.
Two private equity investors have also expressed interest in the company, sources told the publication.
Adani Group, the front-runner among the potential investors, has begun discussions with Simplex Infrastructures’ promoters.
The proposed share sale is a part of the stressed assets resolution plan Simplex Infrastructure is preparing, the report said.
There were pending buy orders of 108,970 shares, with no sellers available.
At 10:46 hrs, Simplex Infrastructures was quoting at Rs 54.00, up Rs 2.55, or 4.96 percent on the BSE.Exclusive offer: Use code "BUDGET2020" and get Moneycontrol Pro's Subscription for as little as Rs 333/- for the first year.
First Published on Feb 20, 2020 11:01 am
