Adani Group on Thursday proposed an offer to offload up to 20 per cent stake in Adani Wilmar; Key details for investors
Adani Wilmar OFS: Adani Commodities, one of the promoter entities of Adani Wilmar, has announced plans to sell up to a 20% stake in the company through an Offer for Sale (OFS) on January 10 and 13, 2025. The floor price for the OFS has been set at Rs 275 per share, according to a filing made by the company on January 9, 2025.
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“Adani Commodities will sell about 17.54 crore shares, which makes up for 13.5 per cent stake in the company on January 10, which is the ‘T Day’. The OFS also includes an oversubscription option, where the said promoter will sell an additional 8.44 crore shares or 6.5 per cent of equity in the company,” it stated in a BSE filing.
The floor price for the OFS has been fixed at Rs 275. Adani Commodities is a promoter of Adani Wilmar.
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Trading Days and Investor Categories
The OFS will occur over two trading days, from January 10 to January 13, 2025, during the designated window of 9:15 am to 3:30 pm each day.
- January 10 (T Day): Only non-retail investors can place bids. Non-retail investors may opt to carry forward any unallotted bids to T+1 day for potential allocation in the unsubscribed portion of the retail category.
- January 13 (T+1 Day): Only retail investors will be allowed to place bids. Non-retail investors who chose to carry forward their unallotted bids will also have the opportunity to revise their bids and participate in the unsubscribed retail category portion.
Allocation Details
The OFS reserves at least 25% of the total offer for mutual funds and insurance companies. Around 10% is reserved for retail investors. The allocation will occur at or above the floor price, based on price priority, except for retail investors who can opt to bid at the cut-off price.
About Adani Wilmar
Adani Wilmar is a leading FMCG company, known for offering essential kitchen products. It is a joint venture between Adani Group and Wilmar International, with both entities holding a 43.94% stake each. Public shareholders own the remaining equity.
Stock Performance
On the stock-specific front, Adani Wilmar’s share price fell by 0.64%, closing at Rs 323.95. Over the past year, the stock has declined by 13%.
