Adani Commodities to Sell 20% Stake in Adani Wilmar via OFS
10 Jan 2025
2 Min Read
CW Team
Adani Commodities LLP, a promoter of Adani Wilmar (AWL), is planning to offload up to 20 per cent of its stake in the company through an Offer for Sale (OFS), scheduled to open on January 10, as per a filing made by the company on Thursday.
The company will sell 175.4 million shares, which represent 13.5 per cent of AWL鈥檚 equity, exclusively on T Day for non-retail investors. The OFS also includes an oversubscription option, allowing the sale of an additional 84.4 million shares, equating to a 6.5 per cent stake.
The floor price for the OFS has been set at Rs 275, which offers a 15 per cent discount on the current market price.
Non-retail investors will be able to bid on T Day, with the option to carry forward unallotted bids to January 13 (T+1 Day) for potential allocation in the retail category. Retail investors can place bids on T+1 Day if the oversubscription option is exercised. Additionally, 25 per cent of the offer is reserved for mutual funds and insurance companies, and 10 per cent is allocated for retail investors.
The allocation will be made at or above the offer price, and retail investors will have the option to bid at the cut-off price, as confirmed by the company.
This OFS follows Adani Enterprises (AEL)'s announcement that it will fully exit its joint venture with Wilmar International in AWL. The exit is expected to generate over $2 billion, which AEL plans to reinvest into its core infrastructure platforms.
Lence Pte, a subsidiary of Wilmar, will acquire up to 31.06 per cent of AWL's shares from Adani Commodities.
In addition, AEL will divest another 13 per cent stake to comply with public shareholding norms, marking its complete exit from its 44 per cent stake in AWL.
Adani Commodities LLP, a promoter of Adani Wilmar (AWL), is planning to offload up to 20 per cent of its stake in the company through an Offer for Sale (OFS), scheduled to open on January 10, as per a filing made by the company on Thursday.
The company will sell 175.4 million shares, which represent 13.5 per cent of AWL鈥檚 equity, exclusively on T Day for non-retail investors. The OFS also includes an oversubscription option, allowing the sale of an additional 84.4 million shares, equating to a 6.5 per cent stake.
The floor price for the OFS has been set at Rs 275, which offers a 15 per cent discount on the current market price.
Non-retail investors will be able to bid on T Day, with the option to carry forward unallotted bids to January 13 (T+1 Day) for potential allocation in the retail category. Retail investors can place bids on T+1 Day if the oversubscription option is exercised. Additionally, 25 per cent of the offer is reserved for mutual funds and insurance companies, and 10 per cent is allocated for retail investors.
The allocation will be made at or above the offer price, and retail investors will have the option to bid at the cut-off price, as confirmed by the company.
This OFS follows Adani Enterprises (AEL)'s announcement that it will fully exit its joint venture with Wilmar International in AWL. The exit is expected to generate over $2 billion, which AEL plans to reinvest into its core infrastructure platforms.
Lence Pte, a subsidiary of Wilmar, will acquire up to 31.06 per cent of AWL's shares from Adani Commodities.
In addition, AEL will divest another 13 per cent stake to comply with public shareholding norms, marking its complete exit from its 44 per cent stake in AWL.
Next Story
3i Infotech Reports Rs 7.25 Bn Revenue for FY25
3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..
Next Story
Emerald Finance Joins Baya PTE to Boost SME Bill Discounting
Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..
Next Story
BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25
BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, 鈥淲e are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..
