15-January-2025
Corporate News
 
Adani, Wilmar likely to start stake sale in joint venture from October
17-Sep-2024

Adani Enterprises Ltd. and Wilmar International Ltd. are expected to start the sale of a minority stake in their consumer joint venture Adani Wilmar Ltd. as early as next month to abide by shareholding regulations, according to people familiar with the matter. The majority owners of Adani Wilmar are planning to sell a roughly 13 per cent interest in the company — valued at about $736 million based on Monday’s closing price - to comply with Indian securities laws, the people said, asking not to be identified discussing confidential information. Local regulations require at least a 25 per cent shareholding should be with non-founders within three years of listing.

News Source:- https://www.business-standard.com/companies/news/adani-wilmar-expected-to-start-stake-sale-in-joint-venture-from-october-124091600819_1.html