Adani Group to sell its 43.97% stake in Adani Wilmar: Report

Shocking: Now the Adani Group is in talks to sell a total of 43.97% stake in the Adani Wilmar. The group is in a discussion with several multinational consumer goods companies and the group might close the till in under one month. Adani Wilmar has an equal joint venture between the Singapore-based Wilmar International and business conglomerate Adani Group as it holds a 43.97% stake each. Adani Wilmar is a company that sells a variety of edible oils and food products in the Fortune brands. Now to know everything, read this article till the end and do not miss anything if you want to know about the complete information.

Adani

According to the source, the Adani Group is focusing on selling the entire stake in Adani Wilmar Limited. The famous businessman Gautam Adani has now led the group holding a total of 43.97% stake in the Adani Wilmar. At the start of 2023, there are some speculations that the flagship of Adani Group of the ports to power conglomerate is planning the sell the stake in Adani Wilmar. But later the company denied the rumor of exiting Wilmar Ventures. Scroll down to know more.

Adani Enterprises has claimed in the exchange filing that, the company wants to clarify that currently there is not any event that requires the disclosure from the company sites by Regulation 30 of SEBI Listing Regulations. The company is currently in an equal joint venture between the business conglomerate the Adani group and Wilmar International which is based in Singapore, they both hold a 43.87% stake each. On 1st November 2023, Edible Oil officially released the Quarter 2 results as the company reported an estimated net worth of Rs. 130.73 crores for the September quarter of this year. The profits impacted very badly in the business of booking oil. Scroll down to know more.

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Adani Group has posted an official net profit of Rs. 48.76 crore in the last year period. The expense of the company stood at Rs. 12,439.45 crores at the time of the Q2 of the fiscal against the Rs. 14,149.62 crores in the year-ago period. The business of edible oil stood at a total of 58% of the total volumes whereas on the other hand, the business of cooking oil is at a total of 74% of the revenue from the operations as it has stood at Rs. 12,267 crore. On this Adani Wilmar has stated that profits have been impacted because of the loss in the edible oil segment which has been set at the good margins in the Food & FMCG and the semgements of the industry.

Prakash Israni
Prakash Israni

Prakash, the content creator for Techballad, has built a solid reputation for himself over the course of more than ten years of blogging