Adani Enterprises to exit Adani Wilmar JV, to sell 31% stake to Wilmar International. Adani Enterprises will exit from Adani Wilmar joint-venture: The company is selling its entire 44% stake in Wilmar, this will raise funds of ₹ 17,101 crore.

Adani Group’s flagship company Adani Enterprises Limited (AEL) has announced its exit from FMCG company Adani Wilmar Joint Venture. Adani Enterprises is selling its entire 44% stake in the Adani Wilmar joint venture.

Adani Enterprises said in a stock exchange filing on December 30 that Adani Enterprises will sell approximately 13% shares in Adani Wilmar to comply with minimum public shareholding requirements.

Apart from this, an agreement has been signed between Adani Enterprises, Adani Commodities LLP (ACL) and Lens Private Limited. Under this agreement, Lens Private Limited will purchase the equity shares of Adani Wilmar held by Adani Commodities LLP. This purchase will be for the remaining 31.06% stake.

Group’s total 44% stake in Wilmar will be sold

ACL is a wholly owned subsidiary of Adani Enterprises. Whereas Lens is a wholly owned subsidiary of Wilmar International Limited. In this way, Adani Group will sell total 44% stake in Adani Wilmar in two phases.

After this, Adani Enterprises will completely exit Adani Wilmar. At the same time, Adani Enterprises will hold 31% stake in Adani Wilmar with Wilmar International.

Enterprises will get ₹17,101 crore from stake sale

Funds worth about $ 2 billion or Rs 17,101 crore will be raised through the sale of Adani Enterprises’ stake in Adani Wilmar. Adani Group will use this fund in its ‘core infrastructure platforms’.

Adani Wilmar shares closed at Rs 323.25 today with a decline of 1.81%.

Wilmar shares fell 1.81% today and closed at Rs 323.

Adani Wilmar shares closed at Rs 323.25 today with a decline of 1.81%. The company’s shares have risen 5% in the last 1 month. Its share has fallen 2.81% in six months and 12% in one year. The market cap of the company is Rs 42.71 thousand crore.

Adani Enterprises shares closed at Rs 2,585 with a gain of 7.26%.

Enterprises shares rose 7.26%, reached Rs 2,585

There was a rise in the shares of Adani Enterprises. Its shares closed at Rs 2,585 with a rise of 7.26%. The company’s shares have risen 5.21% in a month. Its share has fallen 18.81% in six months and 11.39% in one year. The market cap of the company is Rs 2.99 lakh crore.

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