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The promoters will sell a stake of up to 1.24 percent of the total paid up equity share capital of the company, aggregating to 16.11 lakh equity shares.
Adani Wilmar said the two promoter entities would sell up to 1,61,16,014 equity shares from December 26, 2023 to January 31, 2024.
Adani Wilmar Share Price: As part of the divestment, the promoters will sell up to 1.24% of the total paid-up equity share capital of the company aggregating up to 1,61,16014 shares between December 26 and January 31. At the end of the September quarter, Adani Commodities owned 43.97% stake in the company while the other promoter Lence Pte, part of the Wilmar Group, also owned an equal number of 43.97% stake in the FMCG firm.
This move aligns with regulatory obligations set by the Securities and Exchange Board of India, mandating companies to maintain a minimum 25 per cent public stake within three years of their listing, , adani wilmar, Public Float Norms, Lowering Stake
As part of the divestment, the promoters will sell up to 1.24% of the total paid-up equity share capital of the company aggregating up to 1,61,16014 shares between December 26 and January 31. At the end of the September quarter, Adani Commodities owned 43.97% stake in the company while the other promoter Lence Pte, part of the Wilmar Group, also owned an equal number of 43.97% stake in the FMCG firm.