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Adani Group on Thursday proposed a suggestion to dump as much as 20 per cent stake in Adani Wilmar; Key particulars for buyers
Adani Group on Thursday proposed a suggestion to dump stake in Adani Wilmar
Adani Wilmar OFS: Adani Commodities, one of many promoter entities of Adani Wilmar, has introduced plans to promote as much as a 20% stake within the firm via an Offer for Sale (OFS) on January 10 and 13, 2025. The flooring value for the OFS has been set at Rs 275 per share, in accordance with a submitting made by the corporate on January 9, 2025.
“Adani Commodities will promote about 17.54 crore shares, which makes up for 13.5 per cent stake within the firm on January 10, which is the ‘T Day’. The OFS additionally consists of an oversubscription possibility, the place the mentioned promoter will promote a further 8.44 crore shares or 6.5 per cent of fairness within the firm,” it said in a BSE submitting.
The flooring value for the OFS has been fastened at Rs 275. Adani Commodities is a promoter of Adani Wilmar.
Trading Days and Investor Categories
The OFS will happen over two buying and selling days, from January 10 to January 13, 2025, throughout the designated window of 9:15 am to three:30 pm every day.
- January 10 (T Day): Only non-retail buyers can place bids. Non-retail buyers might choose to hold ahead any unallotted bids to T+1 day for potential allocation within the unsubscribed portion of the retail class.
- January 13 (T+1 Day): Only retail buyers will probably be allowed to position bids. Non-retail buyers who selected to hold ahead their unallotted bids may also have the chance to revise their bids and take part within the unsubscribed retail class portion.
Allocation Details
The OFS reserves not less than 25% of the whole provide for mutual funds and insurance coverage firms. Around 10% is reserved for retail buyers. The allocation will happen at or above the ground value, based mostly on value precedence, aside from retail buyers who can choose to bid on the cut-off value.
About Adani Wilmar
Adani Wilmar is a number one FMCG firm, recognized for providing important kitchen merchandise. It is a three way partnership between Adani Group and Wilmar International, with each entities holding a 43.94% stake every. Public shareholders personal the remaining fairness.
Stock Performance
On the stock-specific entrance, Adani Wilmar’s share value fell by 0.64%, closing at Rs 323.95. Over the previous 12 months, the inventory has declined by 13%.
