The Adani Group has officially launched the much-anticipated Offer for Sale (OFS) for up to 20% of its stake in Adani Wilmar, marking a key step in its strategy to comply with India’s public shareholding regulations.
The OFS opened today, January 10, 2025, with a floor price set at ₹275 per share, offering a 15% discount to the company’s recent closing price.
The OFS comes as part of a regulatory requirement that mandates publicly listed companies in India to have at least 25% public shareholding.
Currently, Adani Wilmar has a public shareholding of around 12%, prompting the Adani Group to proceed with the divestment.
The offer will initially sell 13.5% of the group’s stake, with a green shoe option to offer an additional 6.5% if the sale is oversubscribed. Retail investors can participate in the OFS from January 13, 2025, while non-retail investors have already started placing their bids today.
The offer is reserved for mutual funds and insurance companies, with at least 25% of the shares being allocated to them.
This move reflects the Adani Group’s ongoing strategy to exit the consumer goods sector and focus on its core infrastructure businesses.
The funds raised from the sale will be directed towards bolstering the group’s infrastructure operations.
Market participants are closely watching the OFS as Adani Wilmar continues to grow as a leader in India’s edible oil and packaged food sectors.
The impact of this stake sale on the company’s stock price and broader investor sentiment will be closely monitored over the coming days.
The OFS offers an opportunity for both institutional and retail investors to gain exposure to Adani Wilmar at a discount, setting the stage for a key development in the company’s public ownership structure.
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