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 Adani Group will raise 71.48 billion rupees ($833 million) by selling up to 20% stake in Mumbai-listed Adani Wilmar Ltd. as it exits non-core activities to focus on the bread-and-butter infrastructure businesses.

The Offer for Sale (OFS) included an option to sell an additional 8.44 crore shares, equivalent to 6.50percent equity.

Last month, the conglomerate had said that it will sell its entire 44 per cent stake in Adani Wilmar in a two-step process for $2 billion

Adani Group, a port-to-power conglomerate that holds a nearly 44 per cent stake in Adani Wilmar, will sell up to 13.5 per cent to the public in a sale offer beginning on Jan 10, with an option to sell an additional 6.5 per cent, making up the 20 per cent.

The Adani Group on Friday raised about Rs 4,850 crore after selling 13.5 per cent of its stake in Adani Wilmar.

Adani Group on Friday raised Rs 4,850 crore from the sale of 13.5 per cent of its stake in Fortune oil maker Adani Wilmar as part of a strategy to exit non-core activities to focus on main infrastructure business.