The decision of adani Commodities of adani Group to sell stake in FMCG company adani Wilmar is not being liked by the stock market. And its effect is also visible in today's trading session. Due to the group's decision to sell shares through Offer for Sale, adani Wilmar's stock (Adani Wilmat Stock Price) has fallen by 9 percent. In the last closing session, adani Wilmar closed at Rs 323.45, which has fallen by 9.69 percent to Rs 292.10 in today's session.
Retail investors will be able to participate in OFS on january 13
Promoter company adani Commodities is selling stake in adani Wilmar through Offer for Sale. Institutional investors are participating in this offer for sale today, i.e. 10 january 2025. Retail investors can bid to buy the company's stock in this offer for sale on 13 January. In a regulatory filing with the stock exchanges, adani Wilmar said that adani Commodities, which is the promoter of the company, is selling 17,54,56,612 shares equivalent to 13.50 per cent of the total paid-up equity share capital of the company in the offer for sale, in which non-retail investors can participate in the offer for sale on 10 january, while retail investors can participate on 13 January. In case the offer for sale is oversubscribed, adani Commodities also has the option to sell 6.5 per cent stake or 8,44,79,110 shares. The floor price of OFS is Rs 275
In this offer for sale, adani Wilmar has fixed the floor price of Rs 275, which was at a 15 per cent discount from Thursday's closing price. But due to this decision of adani Commodities on Friday, the stock of adani Wilmar has fallen flat.
The stock is 68 per cent below its lifetime high
adani Wilmar's IPO came in february 2022. The company had raised money at an issue price of Rs 230. adani Wilmar's stock gave multibagger returns and reached Rs 878. But after this the decline in the stock continued. The stock is now trading about 68 per cent below its high.
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