Adani Enterprises has announced the strategic sale of Adani Wilmar Ltd, which is expected to significantly enhance its liquidity and fuel its core infrastructure verticals, including the green H2 ecosystem, airports, data centers and more. The sale is projected to generate a substantial corpus of Rs 50,000-52,000 crore and positively impact Adani portfolio's net debt-to-Ebitda ratio. This transaction marks AEL's first major move since the US Department of Justice indictment in November 2024, showcasing the company's disciplined financial approach and resilience in the face of recent challenges. With a strong war chest in place, AEL is poised to reaffirm its dominance in the infrastructure and consumer services sectors.
Adani Enterprises (AEL), one of India's largest conglomerates, is set to sell its almost 44% shareholding in Adani Wilmar Ltd. (AWL) to Wilmar International in a $2 billion transaction. This move is aimed at fulfilling public shareholding standards and using the profits to expand its main infrastructure platforms, such as energy, utilities, transportation, and logistics. The sale will also see AEL's nominee directors resigning from the AWL board and a change in the company's name. This comes just after AEL and its chairman Gautam Adani were indicted in the United States on bribery and fraud charges.
Billionaire Gautam Adani's group announced its exit from FMCG joint venture Adani Wilmar by selling its entire 43.94% stake to the Singaporean partner Wilmar International and in the open market. The estimated $2 billion deal is the first major move since the US bribery indictment. Adani's stake will be sold for Rs 12,314 crore to Wilmar and an additional 13% will be sold through OFS to meet minimum public shareholding requirements. This move allows Adani to focus on turbocharging their growth in core infrastructure businesses.
As the Indian government holds edible oil firms responsible for the rise in prices amid huge stockpiles, recent reports by the SEAI and expert predictions suggest that the country's import of edible oil and pulses is steadily decreasing. In line with this, Adani Wilmar has announced investments worth Rs.600 Crore in the edible oil and solar sectors. While the government's ambitious goal of achieving a USD 55 trillion economy by 2025 seems promising, doubts have been raised about the success of their Digital Agriculture Mission, with the AIKS expressing concerns. The agricultural sector's reactions to the Union Budget 2024 also reflect a forward-looking attitude towards the use of high-yielding pulses and oilseeds as a means to reduce imports.
With the rise of the digital age, social media has become an integral part of our everyday lives, but how much do we really know about its impact? In an exclusive interview with a leading industry expert, we delve into the world of social media to uncover its true power and potential. From the evolution of social media to its potential for influencing public opinion, this eye-opening piece reveals insights that will change the way you view this popular platform.