Adani Group and Wilmar International may sell 13% stake in JV

19 Jul 2024 CW Team

Billionaire Gautam Adani and Singapore-based food processing giant Wilmar International are in early discussions with banks to sell a minority stake in their consumer joint venture, Adani Wilmar. This move aims to help the company comply with shareholding regulations, according to sources familiar with the matter.

The owners are considering selling equal stakes totalling 13% in Adani Wilmar, valued at approximately $670 million. The sale could occur in the coming months. Shares of Adani Wilmar have declined 7% this year, bringing the company's valuation to about $5 billion.

The stake sale could be executed in one or multiple tranches, depending on investor interest. Adani and Wilmar have until February next year to reduce their combined holding to 75%, in line with SEBI regulations. Details such as the size of the stake sale and its timing are still being finalised. Representatives for Adani Group and Wilmar International declined to comment, and Adani Wilmar did not provide an immediate response. (Source: ET)

Infrastructure Energy

19 Sep 2025

J&K CM Rules Out Power Privatisation, Focuses on Sector Reform

Jammu and Kashmir Chief Minister Omar Abdullah has dismissed speculation regarding privatisation of electricity in the Union Territory, emphasising that his priority is to strengthen and reform the power sector.“We are not discussing privatisation. By reducing losses, improving billing efficiency, and enhancing revenue, there will be no need for it. My vision is to strengthen and reform the power sector in J&K,” Abdullah stated.He addressed the gathering at the 58th Engineers’ Day at SKICC on Monday evening, an event honouring Bharat Ratna Sir M Visvesvaraya for his pioneering contri..

Mumbai’s Sassoon Dock to Get Tech-Driven Modernisation with Finland

The Maharashtra government, in collaboration with Finland, will modernise Mumbai’s historic Sassoon Dock using advanced technology, state minister Nitesh Rane announced on Wednesday.Rane met a delegation of Finnish officials and representatives of Finnish companies at the dock to discuss strategic plans for upgrading the facility in south Mumbai, according to an official statement.Built in the 19th century, Sassoon Dock is one of Mumbai’s oldest and busiest fishing harbours. Operations currently exceed its original capacity, raising concerns over hygiene, odour, fish handling standards, an..

Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm o..