The Offer for Sale (OFS) will initially offer 175.4 million shares, representing a 13.5 per cent stake in Adani Wilmar, with an option to oversubscribe by an additional 84.4 million shares, or 6.5 per cent equity
Adani Commodities LLP, a promoter entity of Adani Wilmar or AWL, has declared plans to divest up to 20 per cent of its stake in the company through an Offer for Sale (OFS). The offer will open for non-retail investors on 10 January, 2025, and for retail investors on 13 January, 2025.
The OFS will initially offer 175.4 million shares, representing a 13.5 per cent stake in Adani Wilmar, with an option to oversubscribe by an additional 84.4 million shares, or 6.5 per cent equity. The floor price for the sale has been set at Rs 275 per share. The process will take place on the stock exchange’s separate trading window over two days. On the first day, non-retail investors can place bids and indicate their willingness to carry forward unallotted bids to the second day. Retail investors can bid on the second day, with non-retail investors also allowed to carry forward or revise their bids during this period.
The allocation will be done at or above the floor price on a price-priority basis, except for retail investors, who have the option to bid at a cut-off price. To ensure wider participation, 25 per cent of the shares are reserved for mutual funds and insurance companies, while 10 per cent is allocated to the retail investor category.
Shares of Adani Wilmar fell by 0.64 per cent to close at Rs 323.95 on 09 January, 2025, following the announcement. Over the past year, the stock has seen a decline of 13 per cent.
