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Adani Commodities, the Adani Group promoter entity of Adani Wilmar will be selling 13.5% stake or 17.54 crore shares in the company through this OFS, Adani Wilmar said in its exchange filing on Thursday evening. This is the base issue size.
Additionally, the company will also have a green shoe option to sell another 6.5% stake in the OFS.
Price for the Offer For Sale (OFS) has been fixed at ₹275 apiece, which is a 15% discount to Adani Wilmar’s closing price on Thursday.
The OFS will open for non-retail investors on Friday, January 10 and for retail investors on Monday, January 13.
Late last month, Adani Enterprises, the flagship company of the Adani Group, had announced that it will be exiting the Joint Venture stake that it holds in Adani Wilmar.
As part of this move, it planned on selling 13% stake to achieve minimum public shareholder requirements, while the remaining 31% stake was agreed to be bought by Wilmar International, the other promoter entity of Adani Wilmar.
As of the September quarter, Adani Commodities held a 43.94% stake in the company, while Lence Pte., a unit of Wilmar International, has the remaining 43.94% stake.
The stake that Adani Enterprises currently holds in Adani Wilmar is valued at ₹18,500 crore, or well over $2 billion.
Shares of Adani Wilmar ended 0.6% lower on Thursday at ₹324.1.
First Published: Jan 9, 2025 5:03 PM IST
