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.

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, 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%

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.

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 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 17,54,56,612 shares representing 13.50 per cent of the company.

Adani Group on Friday raised Rs 4,850 crore from the sale of 13.5 per cent of its stake in Fortune oil maker Adani Wilmar as part of a strategy to exit non-core activities to focus on main infrastructure business.

The Adani Group on Friday raised about Rs 4,850 crore after selling 13.5 per cent of its stake in Adani Wilmar. The conglomerate last month announced its exit from Adani Wilmar by selling the bulk of its stake to a joint venture partner.

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.