Adani Wilmar Ltd’s stock plunged 7% after Adani Enterprises Ltd (AEL) announced the sale of its entire 44% stake in the joint venture to partner Wilmar International for $2 billion. The agreement involves Adani Commodities LLP, AEL, and Wilmar’s wholly-owned subsidiary, Lence Pte.
As of September 30, Adani Commodities and Lence Pte each held a 43.94% stake in Adani Wilmar, making the combined promoter holding 87.87%. The deal includes a mutual call and put option for the potential sale of up to 403.74 million shares (31.06% of Adani Wilmar’s paid-up equity), capped at Rs 305 per share.
Adani Wilmar shares opened at ₹310, reaching a high of ₹314.35 and a low of ₹304. Currently trading between its 52-week range of ₹279 and ₹408.95, the stock reflects moderate movement.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
