adani Group has raised Rs 4,850 crore by selling 13.5 percent stake in Fortune oil maker adani Wilmar. On Friday, the group announced the sale of 17.54 crore shares (13.5% equity) to non-retail investors on january 10 and to retail investors on january 13 at a minimum price of Rs 275. This offer for sale (OFS) came with an option for additional sale of 8.44 crore shares (6.5% equity).
Received tremendous support from investors
adani Commodities LLP, a subsidiary of adani Enterprises, completed the OFS for non-retail investors on Friday. More than 100 domestic and international investors participated in this process. This was one of the largest OFS in the indian capital market in recent times. The biggest thing is that this work was completed on a day when the market conditions were not good. Let us tell you, the Sensex fell 0.3 percent and the NIFTY MIDCAP 100 fell 2.1 percent.
adani Group is engaged in raising capital
The adani Group plans to sell 1.96 crore additional shares (1.51% of the company's total equity) under the oversubscription option. A total of 19.50 crore shares (15.01%) will be sold, of which 1.95 crore shares will be for retail investors on january 13. With this deal, the adani Group has raised a total equity capital of US$ 3.15 billion in the current financial year. With the success of OFS, adani Wilmar has met the minimum public shareholding (MPS) norms. Now the promoters' stake is 74.37 percent and the public shareholding is 25.63 percent.
Where will the money be used?
The money raised from the sale of this stake will be used by the adani Group to develop its core infrastructure business, such as airports, roads, data centers and green hydrogen projects. Let us tell you, in october 2024, the group raised US$500 million through institutional placement.
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