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Adani Wilmar shares drop 9.5 % as promoter plans to sell Up To 20 stake

Adani Wilmar shares drop 9.5 % as promoter plans to sell Up To 20 stake

Shares of Adani Wilmar fell 9.5 % in early trade on January 10, hitting ₹ 292.65 per share. The decline followed Thursday Evening 's announcement that its promoter proposes to divest Up To 20 % stake in the company. Adani commodities Llp is one of the promoters of the company, but also has the option to exercise a greenshoe mechanism, allowing it to sell an additional 6.5 Per Cent stake. Late Last Month, Adani enterprises, the flagship entity of the Adani group, announced its decision to exit its joint venture stake in

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