Adani Wilmar shares tumbled 10% after its promoter, Adani Commodities, announced plans to divest a significant stake via an Offer for Sale (OFS). The divestment, disclosed in an exchange filing on Thursday evening, will see the Adani Group entity sell a 13.5% stake (17.54 crore shares) as the base issue size. Additionally, a green shoe option allows for a further 6.5% stake sale.
The OFS price has been set at ₹275 per share, a 15% discount compared to Thursday’s closing price. The sale opens to non-retail investors on January 10 and retail investors on January 13.
This move follows Adani Enterprises’ recent decision to exit its joint venture stake in Adani Wilmar to comply with minimum public shareholding norms. Adani Commodities currently holds a 43.94% stake, mirrored by Lence Pte., a subsidiary of Wilmar International.
Adani Wilmar shares opened at ₹294.00 today, with an intraday high of ₹299.80 and a low of ₹293.55. The stock is trading closer to its 52-week low of ₹279.00, significantly below the 52-week high of ₹408.95.
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