Adani Wilmar promoters to offer 1.6 crore shares to fulfill Sebi guideline

NEW DELHI: To abide by the 25% minimum public shareholding standard, edible oil significant Adani Wilmar on Saturday stated its promoters will unload an overall of 1.24% stake or about 1.61 crore shares of the business next week onwards. “Adani Commodities LLP and Lence Pte Ltd, the promoters of the business have actually communicated to us their intent to offer the Equity Shares to allow us to abide by minimum public shareholding standards,” Adani Wilmar stated in a regulative filing. As part of the divestment, the promoters will offer up to 1.24% of the overall paid-up equity share capital of the business aggregating to 1,61,16014 shares in between December 26 and January 31. At the end of the September quarter, Adani Commodities owned 43.97% stake in the business while the other promoter Lence Pte, part of the Wilmar Group, likewise owned an equivalent variety of 43.97% stake in the FMCG company. Together, the promoters own 87.94% stake in the business. Sebi guidelines mandates all noted business to keep a mninimum public shareholding of 25% however newly-listed business get a 3-year waiver to fulfill the general public float requirement. The stock had actually noted on stock market in February 2022 following a Rs 3,600 crore IPO in which shares were released at Rs 230 per share. Like many other Adani stocks, Adani Wilmar too has actually dealt with the force of invest
Learn more