Tag: shares drop

Adani Wilmar Shares Plunge 10% Amid Stake Sale and Legal Controversies

Adani Wilmar shares experienced a dramatic 10% decline, hitting record lows due to a 20% stake sale via an Offer for Sale (OFS) and legal challenges against Gautam Adani in the United States. The OFS, involving 17.54 crore shares offered at a discounted floor price, heightened negative sentiment. Meanwhile, the Adani Group witnessed substantial financial losses, with Wilmar International set to acquire remaining shares post-OFS.