Adani Wilmar share price falls 7.5% after Adani Enterprises announces departure from Wilmar joint venture

The stock declined as much as 7.52% to ₹304 on the National Stock Exchange in the early trade. At 9:30 am, it was trading 7.12% lower at ₹305.35 apiece.

Adani to exit consumer goods JV Adani Wilmar

In a statement, Adani Enterprises—which holds a 43.94% stake in the JV—said it will sell 31.06% of the stake to Wilmar International and the remaining 13% in the open market.

The conglomerate will sell 40.37 crore shares to Wilmar at no more than ₹305 a unit to net ₹12,314 crore.

"With this, AEL (Adani Enterprises Limited) will fully exit Adani Wilmar Ltd. Adani's nominee directors will step down from the board of Adani Wilmar Ltd," it said.

The transaction is likely to conclude before March 31, 2025.

The Adani Group will use stake sale proceeds to fuel the growth of AEL in core infrastructure businesses.

"Adani Enterprises Ltd, Adani Commodities LLP (a wholly-owned subsidiary of AEL) and Lence Pte Ltd (a wholly-owned subsidiary of Wilmar International Ltd) have entered into an agreement on December 30, 2024, pursuant to which Lence will acquire all the paid-up equity shares of Adani Wilmar Ltd held by Adani Commodities as at the date of exercise of the call option or put option, as the case maybe, in respect of a maximum of 31.06% of the existing paid up equity share capital of AWL," the statement said.

In addition, "it has been agreed between the parties that AEL will divest a 13% share in Adani Wilmar to achieve compliance with minimum public shareholding requirements," it stated without giving details.