Adani Commodities To Exit 20% Stake In Adani Wilmar Via Offer For Sale

Days after announcing its exit from Adani Wilmar, Adani Commodities is all set to sell a 20 per cent stake in the company via an offer for sale (OFS) route. In an exchange filing, Adani Commodities LLP, one of the promoters of Adani Wilmar said that it will sell 13.50% shares of the company to non-retail investors on January 10 and 6.50 per cent shares to retail investors on January 13.

Adani Group To Exit Adani Wilmar: OFS Floor Price

Adani Group said that the floor price for the OFS is fixed at Rs 275 apiece. "The floor price for the Offer shall be ₹ 275 (Rupees Two Hundred Seventy-Five only)
per Equity Share (“Floor Price”)," it further added.

For non-retail investors, the offer shall take place during trading hours on a separate window of the Stock Exchanges on January 10, 2025, between 9.15 am to 3.30 pm.

Last month, the Adani Group announced its decision to exit the Adani Wilmar JV and said that Lence will acquire all the paid-up equity shares of Adani Wilmar Ltd. "It may be noted that with completion of these two legs, AEL would completely exit its ~44% holding in Adani Wilmar," the company had said in an exchange filing.

Adani Group's Adani Wilmar Exit: What Will The Funds Be Used For?

AEL will use the proceeds from the sale to reinvest in its core infrastructure platforms in energy & utility, transport & logistics, and other adjacencies in primary industry. "AEL will continue to invest in infrastructure sectors," the company had said in an exchange filing.