India's Adani Group said on Thursday it plans to sell a stake of up to 20% in Adani Wilmar to the public, as the conglomerate looks to comply with minimum public shareholding rules amid plans to exit the consumer goods company.

Adani Wilmar shares will be in focus as Adani Commodities LLP plans to sell up to a 20% stake via an offer for sale (OFS) on January 10. Non-retail investors can bid first, with retail investors following if the oversubscription option is exercised.

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.

On December 30, the Adani group announced its exit from Adani Wilmar in two stages. In the first phase Adani Commodities would sell such stake so as to comply with the minimum public shareholding norm and in the second phase Adani Enterprises would sell the 31 per cent stake held by it to its joint venture partner Wilmar International.

Adani Group exits its joint venture, Adani Wilmar, by selling its entire stake to Wilmar International and in the open market for over USD 2 billion. This move led to a significant drop in share prices.

The Adani Group will sell its stake in consumer goods firm Adani Wilmar to joint venture partner Wilmar International for 123.14 billion rupees ($1.44 billion) as the Indian conglomerate sharpens its focus on infrastructure projects.

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.

An additional option to sell up to 8.44 crore shares will be included in the offer for sale (OFS) or 6.5% of equity shares. The port-to-power conglomerate, which owns 43.94 percent of the joint venture,

India's Adani Wilmar fell over 6% in early trade on Tuesday, a day after the Adani Group said it would sell its entire 44% stake in the consumer goods company in a $2 billion deal to focus on strengthening its infrastructure businesses.

Days after announcing its exit from Adani Wilmar, Adani Commodities is all set to sell a 20 per cent stake in the company via an offer for sale (OFS) route. In an exchange filing, Adani Commodities LLP,

The Adani Group will raise Rs 7,148 crore from sale of up to 20 per cent stake in FMCG firm Adani Wilmar in the open market as part of its strategy to exit non-core activities to focus on infrastructu