The Adani group’s decision to sell up to 20% stake in Adani Wilmar through an offer for sale (OFS) has made headlines in the business world. This move by Adani Commodities, one of the promoter entities of the Adani group, is set to raise significant funds, with the floor price for the sale being set at ₹275 per share.
The OFS will involve the sale of 17.55 crore shares, representing 13.5% equity, with an oversubscription option of 8.45 crore shares, or 6.5% equity. If fully subscribed at the floor price, the sale would generate a whopping ₹7,150 crore.
This strategic move comes as the Adani group aims to comply with the minimum public shareholding norm. The decision to exit Adani Wilmar is part of the group’s broader strategy to focus on its core infrastructure businesses. The proceeds from the stake sale will further bolster the group’s financial resources, enabling it to pursue expansions and acquisitions in line with its growth objectives.
The sale of stakes by Adani Enterprises, the second phase of the exit process, will see the company divesting its 31% stake to its joint venture partner Wilmar International at a price not exceeding ₹305 per share. This transaction is a key part of the agreement between the joint venture partners.
Overall, the Adani group’s decision to sell stake in Adani Wilmar through OFS reflects its strategic realignment and focus on core business areas. The move is expected to unlock value for the group and provide the flexibility to pursue future growth opportunities. Stay tuned for more updates on this development as it unfolds.
