Shares of Adani Wilmar fell by 10 percent on Friday. Its shares fell after the group announced to raise Rs 7,148 crore by selling 20 percent stake in Adani Wilmar. The stock fell by 9.99 percent to Rs 291.60 on BSE, which is its lower limit. In NSE also it slipped by 10 percent and reached the lower limit of Rs 291.10.
Meanwhile, shares of all 10 Adani Group companies listed on BSE closed with losses. Shares of Adani Enterprises fell by 4.37 percent, Adani Green Energy by 3.54 percent, Adani Power by 3.18 percent and Adani Energy Solutions by 2.91 percent.
Adani Group has announced to raise Rs 7,148 crore by selling up to 20 percent stake in fast-moving consumer goods (FMCG) company Adani Wilmar in the open market. The move is part of the group's strategy to exit non-core businesses to focus on infrastructure business.
The group, in a filing to the stock exchange on Thursday, said it will offer 17.54 crore shares (13.50 per cent stake) in the company at a floor price of Rs 275 per share on January 10 (to non-retail investors) and January 13 (to retail investors). ) will sell.
Adani Wilmar is a joint venture between Adani Group and Singapore-based commodities trader Wilmar. Last month, the group had announced its exit from Adani Wilmar by selling most of its stake in the joint venture partner and in the open market. Wilmar manufactures edible oils, wheat flour and other food products under the Fortune brand.
