India's Adani Wilmar falls to record low on day 2 of stake sale at discount

AWL Agri Business

13/01/2025 05:54

** Adani Wilmar  ADAW.NS  plunges as much as 8.2% to 267.1
rupees, lowest since listing on Feb. 8, 2022
    ** Adani Group announced offer for sale (OFS) to sell up to
13.5% stake with an option to sell an additional 6.5% stake in
ADAW to public on Jan. 10 and Jan. 13
    ** Floor price represents ~15% discount to closing price of
Thursday, when it set the price
    ** ADAW sheds more than 15% since opening of OFS
    ** More than 11.6 mln shares traded, 5x its 30-day avg
    ** Stock rated "hold" on avg; median PT is 385 rupees - LSEG
    ** ADAW lost 13% in 2024

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))