On Friday, January 10, all eyes will be on Adani Wilmar shares. One of its main backers, Adani Commodities LLP, plans to sell up to 20% of its stake in the company. They will sell about 17.54 crore shares on this day, which is about 13.5% of the company. There is also a chance to sell an extra 8.44 crore shares, or 6.5% more of the company.
The starting price for these shares is set at Rs 275, which is 15% lower than the current market price. If they sell the extra shares, regular investors can place their bids on January 13, which is a day later. On the first day, only big investors can bid, but they can indicate that they want to carry their bids to the next day if regular investors do not take part.
A minimum of 25% of the shares will be set aside for mutual funds and insurance companies, while 10% will be reserved for regular investors. Shares will be allocated at or above the bidding price for most, but regular investors can also bid at a special cut-off price.
The sale will happen over two trading days at the stock exchange, with a team of brokers helping with the process.
Adani Wilmar Company Info
Adani Wilmar is a well-known company that makes essential kitchen products. It’s a partnership between the Adani Group and Wilmar International, with each owning almost half of the company.
Share Price and Recommendations
According to data from NiftyStat, the average target price for Adani Wilmar shares is Rs 381, suggesting it could rise by 18% from its latest price. Five analysts recommend holding the stock for now.
Stock Performance
Recently, Adani Wilmar shares were priced at Rs 324, which is down by 0.64%. The company’s overall market value is Rs 42,103 crore, but the stock has decreased by 13% in the past year and 45% over the last two years.
(Note: The views and opinions in this article are those of the experts and not of The Economic Times.)
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