Adani Group will sell 20% stake in Adani Wilmar through OFS, know what will be the price of one share

Adani Group will raise Rs 7,148 crore by selling up to 20 per cent stake in fast moving consumer goods (FMCG) company Adani Wilmar in the open market. This move is part of the group’s strategy to exit non-core business to focus on infrastructure business. According to the information given by the company to the stock market, the group will sell 17.54 crore shares (13.50 percent equity) in the company at a minimum price of Rs 275 per share on January 10 (to non-retail investors) and January 13 (to retail investors).

The announcement was made last month

The group last month announced its exit from Adani Wilmar by selling most of its stake to a joint venture partner. The offer for sale (OFS) will include an option to sell 8.44 crore shares or an additional 6.50 per cent equity stake. This is the first phase of the group’s exit from the joint venture, in which it holds a 43.94 per cent stake, ranging from ports to power. In the second phase, Singapore’s Wilmar International Limited has agreed to buy the remaining stake at a price of more than Rs 305 per share.

At what price will the shares be sold?

Adani has announced his exit from the company. Wilmar manufactures Fortune brand edible oil, wheat flour and other food products. According to the announcement, 40.37 crore shares (31.06 per cent stake) will be sold by Adani to Wilmar at a maximum price of Rs 305 per share. The number of shares to be sold to Wilmar will depend on the response to the OFS. In total, Adani is expected to raise more than $2 billion (about Rs 17,100 crore) from this exit. The deal is likely to be completed by March 31, 2025.

How much is the stake

The amount raised from the stake sale will be used to accelerate the growth of Adani Enterprises Limited’s flagship infrastructure business. Adani Wilmar Limited is an equal joint venture between the Adani Group and Singapore-based commodity trader Wilmar. The two partners currently hold a combined 87.87 per cent stake in Adani Wilmar, far more than the maximum allowable 75 per cent. As per the rules of the Securities and Exchange Board of India (SEBI), large companies need to achieve at least 25 per cent public shareholding within three years of listing.