Adani to raise Rs 7,148 cr from Adani Wilmar stake sale

New Delhi: The Adani Group will raise Rs 7,148 crore from sale of up to 20 per cent stake in Adani Wilmar (AWL) in the open market to exit non-core activities and focus on infrastructure business.

The group will sell 17.54 crore shares (13.50 per cent equity) in AWL on January 10 (to non-retail investors) and on January 13 (to retail investors) at a floor or minimum price of Rs 275 apiece, according to a stock exchange filing by the company.

The offer for sale (OFS) will include an option to additionally sell up to 8.44 crore shares or 6.50 per cent equity.

Singapore’s Wilmar International Ltd has agreed to acquire the residual stake at a price not exceeding Rs 305 apiece.