Adani Commodities LLP, the promoter of Adani Wilmar Limited (AWL), is going to sell up to 20 percent stake in the company through an offer for sale (OFS) opening on January 10. The company gave this information in an exchange filing on Thursday. Adani Commodities will sell 175.4 million shares equivalent to 13.5 percent of AWL's equity on T Day (for non-retail investors only) on January 10. An additional 84.4 million shares can also be sold due to the oversubscription option in the OFS, which is equivalent to 6.5 percent stake. The floor price for the OFS has been fixed at Rs 275, which is a 15 percent discount on the current market price. 

Non retail investors will be able to bid on this day

Non-retail investors will be able to bid on T Day, which can be extended till January 13. Here, under the oversubscription option, retail investors will be able to bid on T+1 day. Apart from this, under the offer for sale, the company has reserved 25% for insurance companies, while 10% has been given to retail investors.

The offer price will be kept this much

The company informed that the allocation will be done at the offer price or above it. In this, retail investors will also have the option to bid at the cut-off price. Let us tell you that earlier in December, Adani Enterprises had decided to completely exit Adani Wilmar.

It was reported that Adani Enterprises will sell its entire 44 percent stake in its joint venture Adani Wilmar. Meanwhile, Wilmar International's subsidiary company Lens will buy 31.06 percent stake from Adani Commodities LLP (ACL).

Adani Enterprises Limited will also sell its 13% stake to meet the minimum public shareholding norms. AEL will raise more than two billion dollars from this deal.

The money raised from the deal will be invested here

This money will be invested in various sectors such as core infrastructure platforms such as logistics, transport, energy etc. Adani Wilmar Limited manufactures and sells FMCG products such as cooking oil, wheat flour, rice, pulses and sugar under the Fortune brand.