On January 9, the group had announced sale of 17.54 crore shares (13.50 percent equity) in the company on January 10 (to non-retail investors) and on January 13 (to retail investors) at a floor or minimum price of Rs 275 apiece.

The move is part of the group’s strategy to focus on its core infrastructure business by exiting non-core activities

The OFS will have a base offer of 13.5% equity and a green shoe option for another 6.5% stake, a company filing said on January 9.

The OFS price has been set at ₹ 275 per share, representing a 15% discount compared to Adani Wilmar 's closing price on Thursday. The sale will commence for non-retail investors on Friday, January 10, and for retail investors on Monday, January 13.

Adani Wilmar shares plunged 9.24 per cent to hit a low of Rs 294 on BSE. The scrip is down 18.69 per cent in the past one year and 47 per cent in the past two years.

Adani, which holds nearly 44% stake, will sell up to 13.5% to the public in an offer for sale beginning Jan 10, with an option to sell an additional 6.5%

Adani Commodities LLP will offlead 13.5 per cent stake via the OFS. It will have the right to sell an additional 6.5-per cent stake

MUMBAI: Adani Group has decided to increase the size of its offer for sale (OFS) to offload part of its stake in Adani Wilmar to 20 per cent from 13 per cent announced earlier, due to strong demand from institutional investors.