Which decision of Gautam Adani did the market not like? Shares of this company fell drastically

Adani Wilmar Stock Crash: The stock market is not liking Adani Group’s Adani Commodities’ decision to sell its stake in FMCG company Adani Wilmar. And its effect is also visible in today’s trading session. Due to the group’s decision to sell shares through Offer for Sale, Adani Wilmar’s stock price has fallen by 9 percent. In the last closing session, Adani Wilmar had closed at Rs 323.45, which fell by 9.69 percent to Rs 292.10 in today’s session.

Retail investors will be able to participate in OFS on January 13

Promoter company Adani Commodities is selling stake in Adani Wilmar through offer for sale. Today i.e. 10th January 2025, institutional investors are taking part in this offer fall sale. On January 13, retail investors can bid to buy the company’s stock in this offer for sale. In a regulatory filing with the stock exchanges, Adani Wilmar said that Adani Commodities, which is the promoter of the company, is selling 17,54,56,612 shares equivalent to 13.50 percent of the total paid-up equity share capital of the company in an offer for sale on January 10. Non-retail investors can participate in the offer for sale on 13 January while retail investors can participate on 13 January. If the Offer for Sale is oversubscribed, Adani Commodities has the option to sell an additional 6.5 percent stake or 8,44,79,110 shares.

The floor price of OFS is Rs 275.

In this offer for sale, Adani Wilmar has set the floor price at Rs 275, which was at a 15 percent discount from Thursday’s closing price. But due to this decision of Adani Commodities on Friday, the stock of Adani Wilmar has fallen flat.

Stock is 68 percent below lifetime high

Adani Wilmar’s IPO came in the month of February 2022. The company had raised money at the issue price of Rs 230. Adani Wilmar’s stock gave multibagger returns and reached Rs 878. But after this the trend of decline in the stock continued. The stock is now trading down about 68 percent from its high.

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