Thu Jan 02 15:43:54 UTC 2025: ## Adani Enterprises Sells Entire Stake in Adani Wilmar, Sending Shares Plunging

**Mumbai, India** – Shares of Adani Wilmar plummeted nearly 8% in early trading Tuesday following the announcement that Adani Enterprises would divest its entire 43.94% stake in the joint venture. The move, which will raise over $2 billion for Adani Enterprises, aims to fuel investments in core infrastructure sectors like energy and utilities.

Adani Enterprises will sell 31.06% of its stake to its Singaporean partner, Wilmar International, with the remaining portion offered to the public. This transaction is expected to increase public shareholding in Adani Wilmar to the mandatory minimum of 25%.

The sale, valued at approximately $2.2 billion, represents a significant shift in Adani Enterprises’ strategy. The company stated that the proceeds will “turbocharge” investments in its core infrastructure businesses, further solidifying its position as a major player in India’s growth story.

Adani Wilmar, which boasts nearly ₹50,000 crore in FY24 revenue, saw its share price fall to ₹303.95 apiece on the BSE by 9:50 AM, a 7.75% drop. This comes after a three-month decline of over 12% and a year-to-date drop of 17%. Adani Enterprises shares also experienced a downturn, falling 2.18%. The broader Adani Group has seen its stock values decline by more than 50% in the past two years. The impact of this sale on the long-term performance of both companies remains to be seen.

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