Adani Enterprises to exit food venture Adani Wilmar, raise $2 billion for investment in core infrastructure

Adani Enterprises (AEL) has fully exited its joint venture with Adani Wilmar by selling its 13% stake to comply with minimum public shareholding requirements, according to a media statement released by the business group. The divestment will generate over $2 billion, which AEL plans to reinvest into its core infrastructure platforms.

Adani Enterprises, Adani Commodities LLP (ACL), and Wilmar International’s subsidiary Lence reached an agreement where Lence will acquire the 31.06% stake in Adani Wilmar previously held by ACL, the statement noted.

Adani Enterprises is selling about 13% of its stake in Adani Wilmar to meet regulatory requirements. Following these transactions, AEL will fully exit its approximate 44% stake in Adani Wilmar, with Wilmar International taking up to 31%. Adani’s nominee directors will step down from Adani Wilmar’s board, and shareholders will consider renaming the company.

Funds raised from divestment will be used by Adani Enterprise to augment investments in core infrastructure sectors like energy, utilities, transport, logistics, and other related industries. AEL stated that it would continue investing in infrastructure to strengthen its position as India’s largest publicly listed platform incubator, focusing on key areas supporting India’s economic growth.

AEL and Wilmar, as the founding shareholders of Adani Wilmar, have collaboratively established India’s largest Food FMCG company, earning the trust of millions of Indian households. Adani Wilmar is strategically positioned to leverage its extensive scale of operations, robust distribution network, and vast retail presence across India. The company boasts 100% urban market coverage, a presence in over 30,600 rural towns, and exports to more than 30 countries worldwide.