Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
Adani to exit Wilmar JV in deal worth over $2 bn
Hindustan Times West UP
|December 31, 2024
Proceeds from the stake sale will be used to turbocharge the growth of AEL
NEW DELHI: Billionaire Gautam Adani's group on Monday announced its exit from FMCG joint venture Adani Wilmar by selling its entire stake to the Singaporean partner and in the open market for an estimated over $2 billion in a first major deal since the US bribery indictment.
In a statement, Adani Enterprises Ltd - which held 43.94% stake in Fortune brand cooking oil, wheat flour and other food product maker Adani Wilmar Ltd-said it will sell 31.06% stake to Wilmar International. About 13% will be sold in the open market to meet minimum public shareholding requirements.
Adani will sell a 31.06% stake to Wilmar for ₹12,314 crore (share price of no more than ₹305 apiece).
Adding the share sale through OFS, the total proceeds will exceed $2 billion (about ₹17,100 crore).
This story is from the December 31, 2024 edition of Hindustan Times West UP.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Hindustan Times West UP
Hindustan Times West UP
Tight liquidity may spur RBI move
The RBI could step in soon likely via open market operation bond purchases or forex swaps
3 mins
October 27, 2025
Hindustan Times West UP
Brook ton in vain as NZ beat England by 4 wickets
Captain Harry Brook’s brilliant century wasn’t enough to rescue England as hosts New Zealand eased to a four-wicket win in the first one-day international on Sunday.
2 mins
October 27, 2025
Hindustan Times West UP
What NCRB data says about nature of crime
The National Crime Records Bureau (NCRB) recently released its Crime in India 2023 report. NCRB's Crime in India reports are a comprehensive analysis of the crime scene in the country.
3 mins
October 27, 2025
Hindustan Times West UP
Student handcuffed after AI mistakes bag of chips for gun
{ U.S. HIGH SCHOOL
1 mins
October 27, 2025
Hindustan Times West UP
Street to see a tide of retail investors in next one year
India’s retail investment landscape may be on the cusp of change, with a surge of first-timers ready to enter the equity markets.
2 mins
October 27, 2025
Hindustan Times West UP
Tales of transformation, pathway to Viksit Bharat
A revolution in agro-processing is turning farmers in the arid parts of Karnataka into entrepreneurs, converting blocks into manufacturing hubs. It holds lessons for other parts of India
5 mins
October 27, 2025
Hindustan Times West UP
LENSKART TO LAUNCH IPO ON OCTOBER 31
Eyewear retailer Lenskart Solutions is gearing up to launch its initial public offering (IPO) on October 31, aiming to raise %2,150 crore through a fresh issue of shares.
1 min
October 27, 2025
Hindustan Times West UP
Waiting for Bihar’s moment in the sun
This column is on the Bihar assembly elections, but it is more of a collage of the massive changes taking place in the state and the painful impact of the upheaval.
4 mins
October 27, 2025
Hindustan Times West UP
Ensure bus safety to avoid Kurnools
Ignored safety norms & lack of regulatory oversight combine to turn buses into moving death traps
2 mins
October 27, 2025
Hindustan Times West UP
US hikes Canada tariffs by 10% over ‘fraud’ Reagan ad
US President Donald Trump said he was hiking tariffs on Canadian goods by an additional 10% in the latest fallout over a Canadian anti-tariff ad that featured late US leader Ronald Reagan.
1 min
October 27, 2025
Listen
Translate
Change font size