Following Adani Wilmar’s offer for sale by its promoter, FTSE is expected to increase its weight in the index in its rejig today, that could lead to $25 million of passive inflows, Nuvama Research said.

This would translate into 7.8 million shares or 1.7 days of trading impact, it said, adding that such events are more volume driven rather than solely price focused.

Adani Wilmar’s promoter entity was offering up to 20 per cent of its equity, including a base offer of 13.5 per cent and an option to exercise oversubscription up to 6.5 per cent.

In a filing to the exchanges the company said it would be exercising its oversubscription option to the extent of 1.5 per cent of the paid-up equity, effectively translating into 15 per cent in the aggregate.

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At the floor price of ₹275 per share, the sale share would be worth ₹5,365 crore.

Following this OFS, which is being conducted to comply with the minimum public shareholding norms, flagship Adani Enterprises will be selling its remaining stake in the FMCG company and exiting the venture.

The Adani group is selling its stake in the venture to its joint venture partner Wilmar International and its name will also be changed, while Adani’s nominee directors will also be stepping down.

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This is part of the Adani group’s plans to exit its non-core activities and focus only on its core infrastructure business. The proceeds from the sale of its stake in the JV will be invested primarily in airports, green hydrogen, and digital businesses.