Stock Market Today: Adani Wilmar share price crashed more than 9% in the morning trade on Monday as the company's offer for sale (OFS) opened for retail investors today. The company on Friday announced that its promoters will exercise the oversubscription option.
Adani Wilmar share price opened at ₹271.05 on the BSE on Monday, almost 7% lower than the previous close of ₹291.60. Adani Wilmar share price thereafter dipped further to a low of ₹267.45, marking a decline of more than 9%.
Adani Wilmar OFS, which started on January 10, is underway with the bidding opening for retail investors. While the bidding for the base issue size continues, the retail investors can participate in the OFS today.
In addition, one of the promoters is exercising an oversubscription option, making 1,96,29,910 shares—representing 1.51% of the total issued and paid-up share capital—available in the OFS. This is in addition to the base offer, where 17,54,56,612 shares, accounting for 13.50% of the total issued and paid-up share capital, are already being offloaded by the promoters.
Adani Wilmar informed stock exchanges post-market hours on Friday about one of the promoters exercising the oversubscription option to the extent of 1,96,29,910 shares, representing 1.51 per cent of the total issued and paid-up share capital.
Accordingly, the aggregate number of offered shares will be up to 19,50,86,522 equity shares (representing 15.01% of the total issued and paid-up Equity Share capital of the Company) of which, up to 1,95,08,653 Equity Shares (representing 1.50% of the total issued and paid-up Equity Share capital of the company) would be available as part of the offer on T+1 day.
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