The sale, which was announced last month, involved the sale of 17.54 crore shares (13.50% equity) in Adani Wilmar on January 10 to non-retail investors and on January 13 to retail investors at a minimum price of Rs 275 per share.

Last month, the conglomerate had said that it will sell its entire 44 per cent stake in Adani Wilmar in a two-step process for $2 billion

The share price of Adani Wilmar plunged nearly 9 per cent in the Friday trading session after its promoter entity Adani Commodities LLP declared its plans to divest up to 20 per cent of its stake in the company through an offer-for-sale (OFS).

On January 9, the group had announced sale of 17.54 crore shares (13.50 percent 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 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.

The OFS price has been set at ₹ 275 per share, representing a 15% discount compared to Adani Wilmar 's closing price on Thursday. The sale will commence for non-retail investors on Friday, January 10, and for retail investors on Monday, January 13.

Adani Commodities LLP will offlead 13.5 per cent stake via the OFS. It will have the right to sell an additional 6.5-per cent stake

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%

Adani Wilmar shares fell over 9% on Friday, January 10, as the two-day offer-for-sale (OFS) by promoter Adani Commodities LLP kicks off. Read on to find out why the stock declined.

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.