Adani Group has raised Rs 4,850 crore by selling 13.5 percent stake in Fortune oil manufacturing company Adani Wilmar. On Friday, the group announced the sale of 17.54 crore shares (13.5% equity) to non-retail investors on January 10 and to retail investors on January 13 at a floor price of Rs 275. This offer for sale (OFS) came with an option to sell additional 8.44 crore shares (6.5% equity).
Got tremendous support from investors
Adani Commodities LLP, a subsidiary of Adani Enterprises, completed OFS for non-retail investors on Friday. More than 100 domestic and international investors participated in this process. This was one of the largest OFS in the Indian capital market in recent times. The most important thing is that this work was completed on a day when the market situation was not good. Let us tell you, Sensex fell by 0.3 percent and NIFTY MIDCAP 100 recorded a decline of 2.1 percent.
Adani Group is busy collecting capital
Adani Group plans to sell additional 1.96 crore shares (1.51% of the total equity of the company) under the oversubscription option. Overall, 19.50 crore shares (15.01%) will be sold, of which 1.95 crore shares will be for retail investors on January 13.
With this deal, Adani Group has raised a total of US $ 3.15 billion equity capital in the current financial year. With the success of OFS, Adani Wilmar has met the minimum public shareholding (MPS) norms. Now promoters’ share is 74.37 percent and public shareholding is 25.63 percent.
Where will the money be used
Adani Group will use the money from the sale of this stake to develop its core infrastructure business, such as airports, roads, data centers and green hydrogen projects. Let us tell you, in October 2024, the group had raised US $ 500 million through institutional placement.
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