India News Get -BusinessAdani Enterprises to exit Adani Wilmar JV and sell 31% stake to Wilmar International
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 Dec. 30 stock filing that Adani Enterprises would sell about 13 percent of Adani Wilmar’s shares to comply with minimum public shareholding requirements.
Apart from this, an agreement was signed between Adani Enterprises, Adani Commodities LLP (ACL) and Lens Private Limited. Under the agreement, Lens Private Limited will purchase the shares of Adani Wilmar held by Adani Commodities LLP. This purchase will relate to the remaining 31.06% stake.
The group’s total 44% stake in Wilmar will be sold
ACL is a wholly owned subsidiary of Adani Enterprises. While Lens is a wholly owned subsidiary of Wilmar International Limited. In this way, Adani Group will sell the 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.
Companies to receive ₹17,101 crore from stake sale
Funds worth around $2 billion, or Rs 17,101 crore, will be raised through the sale of Adani Enterprises’ stake in Adani Wilmar. The 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 are up 5% over the past month. Its share fell by 2.81% in six months and by 12% in one year. The market capitalization of the company is Rs 42.71 thousand crore.
Adani Enterprises shares closed at Rs 2,585 with a gain of 7.26 per cent.
Shares of the companies rose 7.26% and touched Rs 2,585
There was a rise in Adani Enterprises shares. Its shares closed at Rs 2,585 with a rise of 7.26%. The company’s shares rose 5.21% in a month. Its share fell by 18.81% in six months and 11.39% in one year. The market capitalization of the company is Rs 2.99 lakh crore.
Adani Wilmar profit of Rs 311 crore in second quarter: Last year there was a loss of Rs 131 crore, shares rose 6% after the results.
Adani Wilmar, the FMCG company of the Adani Group, reported a consolidated net profit of Rs 311 crore in the second quarter of the financial year 2024-25. The company had suffered a loss of Rs 131 crore in the same quarter a year ago. …