Adani Wilmar's shares witnessed a decline following the announcement that the company's promoters plan to lower their stake by up to 1.24 per cent. This strategic move is aimed at ensuring compliance with SEBI (Securities and Exchange Board of India) norms, which mandate a reduction in promoter shareholding to meet regulatory requirements.

The decision to sell a portion of the promoter's stake, valued at around Rs 588 million, is a proactive step to adhere to market regulations and align with SEBI's guidelines. While the move aims to meet regulatory standards, the impact on Adani Wilmar's share prices reflects market reactions to changes in the company's ownership structure.

The development emphasises the dynamic nature of India's stock market, where regulatory compliance plays a crucial role in shaping corporate strategies and investor sentiments. Adani Wilmar's commitment to adhering to SEBI norms underscores the company's dedication to maintaining transparency and regulatory integrity in the market.