Adani Wilmar OFS: Shares in Adani Group company Adani Wilmar are going to be sold through Offer for Sale (OFS). Adani Commodities, one of the promoter entities of Adani Wilmar, will sell up to 20 per cent stake in the company through OFS on January 10 and 13. The floor price of the OFS will be Rs 275 per share, which is 15 per cent lower than Adani Wilmar’s closing price on Thursday, the company said in an exchange filing today, January 9. Adani Wilmar shares fell by 0.64 percent today and closed at Rs 323.95 on BSE.
What did Adani Wilmar say in its exchange filing?
Adani Wilmar’s filing on January 9 said the OFS will have a base offer of 13.50 per cent equity with a green shoe option. Adani Commodities LLP will sell 17.54 crore shares or 13.50% stake in Adani Wilmar as a base offer on January 10 and 13, with an option to sell an additional 8.45 crore shares (6.50% of the paid-up equity) in case of oversubscription.
The OFS will open for non-retail investors on Friday, January 10 and for retail investors on Monday, January 13. A minimum of 25% of the OFS has been reserved for mutual funds and insurance companies. Antique Broking, ICICI Securities, Jefferies, Nuvama Wealth and SBICAP Securities are the brokers of the offer for sale.
Adani Group will exit from Adani Wilmar
Adani Enterprises plans to sell 13% stake in Adani Wilmar to meet minimum public shareholding requirements. At the same time, it was agreed to buy the remaining 31% stake by Adani Wilmar’s other promoter entity Wilmar International.
As of the September quarter, Adani Commodities held 43.94% stake in the company, while Wilmar International unit Lens Pvt Ltd holds the remaining 43.94%. Adani Enterprises’ current stake in Adani Wilmar is valued at over ₹18500 crore or $2 billion.
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