Adani Wilmar’s shares fell by almost 7%: Adani Enterprises selling entire 44% stake of FMCG company Wilmar.

The shares of Adani Wilmar, the FMCG company of Adani Group, are seeing a decline of about 7% today. Currently this share is trading at the level of Rs 306.40 with a decline of 6.80%. In fact, on December 30, Adani Group’s flagship company Adani Enterprises Limited (AEL) has announced its exit from 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 – The company will sell approximately 13% shares in Adani Wilmar to comply with the 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.

Enterprises will get ₹17,101 crore from stake sale

Funds worth about $2 billion i.e. 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’.