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 Adani Wilmar Joint Venture. Adani Enterprises said in a stock exchange filing on December 30 that Adani Enterprises will sell about 13% shares in Adani Wilmar to comply with the minimum public shareholding requirements. Apart from this, an agreement has been reached between Adani Enterprises, Adani Commodities LLP (ACL) and Lens Private Limited. Under this agreement, Lens Private Limited will buy the equity shares of Adani Wilmar held by Adani Commodities LLP. This purchase will be of 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. At the same time, Lens is a wholly owned subsidiary of Wilmar International Limited. In this way, a total of 44% stake will be sold by Adani Group in Adani Wilmar in two phases. After this, Adani Enterprises will completely exit Adani Wilmar. At the same time, Wilmar International will get 31% stake of Adani Enterprises in Adani Wilmar. Enterprises will get ? 17,101 crore from stake sale. About $ 2 billion i.e. Rs 17,101 crore fund will be raised through the stake sale of Adani Enterprises in Adani Wilmar. Adani Group will use this fund in its ‘core infrastructure platforms’. Wilmar’s stock closed 1.81% down at Rs 323 today. Adani Wilmar’s stock closed 1.81% down at Rs 323.25 today. The company’s stock has risen 5% in the last 1 month. At the same time, its share has fallen by 2.81% in six months and 12% in one year. The market cap of the company is Rs 42.71 thousand crores. The share of Enterprises rose 7.26%, reached Rs 2,585, while the shares of Adani Enterprises saw a rise. Its share closed at Rs 2,585 with a gain of 7.26%. The share of the company has risen 5.21% in a month. At the same time, its share has fallen 18.81% in six months and 11.39% in a year. The market cap of the company is Rs 2.99 lakh crore. Read this news too… Adani Wilmar’s profit of Rs 311 crore in the second quarter: Last year there was a loss of Rs 131 crore, the share rose 6% after the results The consolidated net profit of Adani Wilmar, an FMCG company of Adani Group, stood at Rs 311 crore in the second quarter of FY 2024-25. The company had suffered a loss of Rs 131 crore in the same quarter a year ago. Read full news…
