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Adani Wilmar shares continued their downward pattern for the third consecutive day, dropping 9.5%
Adani Wilmar Stocks Fall Today
Adani Wilmar shares continued their downward pattern for the third consecutive day, dropping 9.5% to Rs 292 on January 10, following the launch of a two-day offer-for-sale (OFS) by promoter Adani Commodities focusing on non-retail buyers. The retail portion of the sale is ready to start on January 13.
Adani Commodities plans to promote 17 crore shares, representing 13.5% of Adani Wilmar’s complete issued fairness. The OFS additionally contains an oversubscription possibility, permitting for the sale of a further 8.4 crore shares, or 6.5% of the corporate. The sale value is ready at Rs 275 per share, providing a 6% low cost to the day’s lowest value.
In December 2024, Adani Enterprises, the flagship firm of the Adani Group, introduced its determination to exit its three way partnership stake in Adani Wilmar. As a part of this transfer, Adani Enterprises intends to promote a 13% stake to adjust to minimal public shareholding necessities, whereas its companion, Wilmar International, will purchase the remaining 31% stake.
Ventura Securities not too long ago famous that the strategic sale of Adani Wilmar would improve Adani Enterprises’ liquidity. The proceeds from the sale might doubtlessly help further debt of Rs 35,000 to Rs 36,000 crore, contributing to a complete fund of Rs 50,000 to Rs 52,000 crore.
The report emphasised that the Adani Group’s fairness as a proportion of total belongings presently stands at 63%, a determine anticipated to rise following this transaction, underscoring the group’s ongoing deal with sustaining a robust capital construction and efficient capital administration.
Over the previous three days, Adani Wilmar’s shares have fallen by greater than 11%, in comparison with a 1% decline within the Nifty 50 index. The inventory had beforehand hit a 52-week low of Rs 279 per share on November 22, 2024.
