Adani Group Raises Rs 4,850 crore from Stake Sale

The Adani Group has successfully raised ₹4,850 crore by selling a 13.5% stake in Adani Wilmar, comprising 17.54 crore shares, as part of its strategy to exit non-core activities and focus on its main infrastructure business. The offer for sale (OFS) was completed on January 10 for non-retail investors and is set to continue for retail investors on January 13, with a minimum price of ₹275 per share and an option to sell up to an additional 8.44 crore shares. This activity underlines the Adani Group's capability to attract significant investment despite challenging market conditions, with over 100 international and domestic investors participating in the transaction. Following this OFS, Adani Wilmar has achieved compliance with minimum public shareholding norms, with promoters holding 74.37% of the company. The group plans to sell a further stake to Wilmar International at a price not exceeding ₹305 per share, aiming to raise a total of ₹7,148 crore from the overall stake sale. This transaction marks a significant step for the Adani Group amidst ongoing legal challenges related to past allegations of bribery.