Adani Enterprises is considering selling its stake in its consumer-staple joint venture with Wilmar International in order to free up capital for their core business, according to anonymous sources. The conglomerate has been exploring a potential sale of its 44% stake in Adani Wilmar for several months. Its shares are currently valued at about $2.7 billion. It is possible that billionaire Gautam Adani and his family will retain a minority stake following the sale. Wilmar may choose to keep its stake in the business. Deliberations are still at an early stage and Adani Enterprises may decide to keep its stake. Adani’s spokesperson declined to comment on market speculation, while Wilmar’s representative also declined to comment. Adani Wilmar’s shares have fallen approximately 36% this year, resulting in a valuation of around $6.2 billion. Adani Wilmar raised $435 million in an IPO in 2022. Adani and Wilmar currently hold a combined stake of nearly 88% in the company, meeting the Sebi rules for minimum public shareholding.
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