Adani, which holds nearly 44% stake, will sell up to 13.5% to the public in an offer for sale beginning Jan 10, with an option to sell an additional 6.5%

Adani Wilmar shares fell over 9% on Friday, January 10, as the two-day offer-for-sale (OFS) by promoter Adani Commodities LLP kicks off. Read on to find out why the stock declined.

Adani Wilmar shares are in focus as Adani Commodities LLP plans to sell up to a 20% stake via an offer for sale (OFS) on January 10. Non-retail investors can bid first, with retail investors following if the oversubscription option is exercised.

The OFS will have a base offer of 13.5% equity and a green shoe option for another 6.5% stake, a company filing said on January 9.

On December 30, the Adani group announced its exit from Adani Wilmar in two stages. In the first phase Adani Commodities would sell such stake so as to comply with the minimum public shareholding norm and in the second phase Adani Enterprises would sell the 31 per cent stake held by it to its joint venture partner Wilmar International.

Adani Wilmar shares dropped 9% to ₹293.55 after promoter Adani Commodities announced plans to divest up to 20% stake via an Offer For Sale. The sale price is set at ₹275 per share, with non-retail investors eligible from January 10.

The Adani Group will raise 71.48 billion rupees ($833 million) by selling up to 20% stake in Mumbai-listed Adani Wilmar Ltd. as it exits non-core activities to focus on the bread-and-butter infrastructure businesses.

MUMBAI: Adani Group has decided to increase the size of its offer for sale (OFS) to offload part of its stake in Adani Wilmar to 20 per cent from 13 per cent announced earlier, due to strong demand from institutional investors.

Days after announcing its exit from Adani Wilmar, Adani Commodities is all set to sell a 20 per cent stake in the company via an offer for sale (OFS) route. In an exchange filing, Adani Commodities LLP,