Adani Enterprises To Fully Exit Adani Wilmar - Details

Billionaire Gautam Adani-led Adani Enterprises is all set to fully exit Adani Wilmar. In an exchange filing the company said that it will sell the stake in Adani Wilmar Ltd to achieve minimum public shareholding requirements.  Wilmar International has agreed to acquire ~31% held by AEL in Adani Wilmar Ltd. With this move, Adani Enterprises Limited will fully exit the Adani Wilmar platform. 

According to the scheme of arrangement shared by Adani Enterprises Limited, Adani’s nominee directors will step down from the Board of Adani Wilmar Ltd. The two parties have also agreed to take steps to change the name of ‘Adani Wilmar Ltd’. 

Adani Enterprises To Exit Adani Wilmar: What We Know So Far

“The Proceeds from the sale will be utilized for turbocharging growth in the core infrastructure platforms in energy & utility, transport & logistics and other adjacencies in primary industry,” AEL said in the filing. 

In addition, it has been agreed between the parties that AEL will divest ~13% of shares in Adani Wilmar to achieve compliance with minimum public shareholding 
requirements. It may be noted that with the completion of these two legs, AEL would completely exit its ~44% holding in Adani Wilmar. As of Friday, 27 December 2024,
Adani Wilmar had a market capitalization of INR 42,785 crore.

"In consideration of the above, AEL’s board of directors has adopted a resolution noting the resignation of ACL’s nominee directors from the board of Adani Wilmar.
The parties have agreed to take further steps for the change of name of Adani Wilmar Ltd," the company further added.