Adani Group raises Rs 4,850 cr from sale of 13.5% stake in Adani Wilmar
Adani Wilmar as part of a strategy to exit non-core activities to focus on main infrastructure business. The conglomerate, which last month announced its exit from Adani Wilmar by selling the bulk of its stake to a joint venture partner, had on Thursday announced sale of 17.54 crore shares (13.50 per cent equity) in the company on January 10 (to non-retail investors) and on January 13 (to retail investors) at a floor or minimum price of Rs 275 apiece.
The offer for sale (OFS) included an option to additionally sell up to 8.44 crore shares, or 6.50 per cent equity.
Adani Commodities LLP, a subsidiary of Adani Enterprises Ltd, completed the offer for sale (OFS) for 13.5 per cent stake in Adani Wilmar to non-retail investors on Friday, according to information available from stock exchange filings.
The transaction saw massive demand from a diverse set of marquee international and domestic investors with over 100 investors participating in the transaction, one of the largest OFS in recent times in the Indian capital markets.
The transaction was completed successfully despite a very difficult market backdrop — the Sensex fell 0.3 per cent while NIFTY MIDCAP 100 fell 2.1 per cent on Friday.
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