Adani Group, a port-to-power conglomerate that holds a nearly 44 per cent stake in Adani Wilmar, will sell up to 13.5 per cent to the public in a sale offer beginning on Jan 10, with an option to sell an additional 6.5 per cent, making up the 20 per cent.

Adani, which holds nearly 44% stake, will sell up to 13.5% to the public in an offer for sale beginning Jan 10, with an option to sell an additional 6.5%

The Adani Group will raise 71.48 billion rupees ($833 million) by selling up to 20% stake in Mumbai-listed Adani Wilmar Ltd. as it exits non-core activities to focus on the bread-and-butter infrastructure businesses.

Adani Wilmar, the food and beverage arm of the Adani Group, shares nosedived almost 10 per cent on NSE (National Stock Exchange), as OFS sale of the Adani Wilmar from one of the promoters; Adani Commodities has offering up to 17,

The offer for sale (OFS) will include an option to additionally sell up to 8.44 crore shares or 6.50 per cent equity.

The OFS will have a base offer of 13.5% equity and a green shoe option for another 6.5% stake, a company filing said on January 9.

Adani Wilmar shares dropped 9% to ₹293.55 after promoter Adani Commodities announced plans to divest up to 20% stake via an Offer For Sale. The sale price is set at ₹275 per share, with non-retail investors eligible from January 10.

MUMBAI: Adani Group has decided to increase the size of its offer for sale (OFS) to offload part of its stake in Adani Wilmar to 20 per cent from 13 per cent announced earlier, due to strong demand from institutional investors.

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,