Adani Wilmar stocks recover as share price rises 5% in ealry trade

Wed Jan 01 08:53:34 UTC 2025: ## Adani Wilmar Shares Rebound After Adani Enterprises Divestment Announcement

**Mumbai, January 3, 2024** – Shares of Adani Wilmar (AWL) experienced a dramatic turnaround today, surging nearly 5% in early trading after a significant drop following the announcement of Adani Enterprises Ltd (AEL)’s complete divestment from the joint venture.

AEL, the flagship company of the Adani Group, revealed on Monday its plan to sell its entire 44% stake in AWL to Wilmar International, its Singaporean partner, in two phases. This news initially triggered a 7% decline in AWL shares on Tuesday. The first phase will see up to 31.06% sold to Lence Pte Ltd, a Wilmar subsidiary, through a call or put option mechanism. The remaining stake will be offloaded later to meet public shareholding norms.

However, investor sentiment appeared to stabilize today, with AWL shares recovering strongly. The sale is expected to generate over $2 billion for AEL, enabling it to concentrate on growth initiatives in sectors such as green hydrogen, data centres, digital ventures, and airport-related consumer services. AEL stated that the move aligns with its strategic focus on infrastructure and macroeconomic sectors driving India’s growth.

This divestment follows recent significant fundraising efforts by the Adani Group, including $500 million secured by AEL in October and a collective $4.5 billion raised by other group companies. The complete divestment from AWL is expected to be finalized by March 2025.