It’s not just about perceived difficulty in raising money or reduce high debt levels. Analysts say the business does not sit well with the overall infrastructure piece of the conglomerate.

Adani Group exits its joint venture, Adani Wilmar, by selling its entire stake to Wilmar International and in the open market for over USD 2 billion. This move led to a significant drop in share prices.

The Adani Group will sell its stake in consumer goods firm Adani Wilmar to joint venture partner Wilmar International for 123.14 billion rupees ($1.44 billion) as the Indian conglomerate sharpens its focus on infrastructure projects.

Shares of Adani Wilmar hit a low of ₹303.30 on the BSE, taking the market cap of Fortune edible oil producer to under ₹40,000 crore.

India's Adani group is exiting its consumer goods joint venture with Singapore's Wilmar International in a $2 billion deal as it looks to bolster its infrastructure business. The divestment marks the Indian conglomerate's first major transaction since the U.

Billionaire Gautam Adani's group on Monday announced its exit from FMCG joint venture Adani Wilmar by selling its entire stake to the Singaporean partner and in the open market for over USD 2 billion