The Adani Group will raise 71.48 billion rupees ($833 million) by selling up to 20% stake in Mumbai-listed Adani Wilmar Ltd. as it exits non-core activities to focus on the bread-and-butter infrastructure businesses.

On December 30, the Adani group announced its exit from Adani Wilmar in two stages. In the first phase Adani Commodities would sell such stake so as to comply with the minimum public shareholding norm and in the second phase Adani Enterprises would sell the 31 per cent stake held by it to its joint venture partner Wilmar International.

"The offer will take place over two trading days on a separate window of the stock exchanges on January 10, 2025 and January 13, 2025, from 9:15 am to 3:30 pm on both days," Adani Wilmar said.

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.

Indian billionaire Gautam Adani’s Adani Enterprises is selling its entire stake in Mumbai-listed Adani Wilmar in a $2 billion multi-phased deal with partner Singapore-based Wilmar International.

MUMBAI: Adani Group has decided to increase the size of its offer for sale (OFS) to offload part of its stake in Adani Wilmar to 20 per cent from 13 per cent announced earlier, due to strong demand from institutional investors.

India's Adani Wilmar fell over 6% in early trade on Tuesday, a day after the Adani Group said it would sell its entire 44% stake in the consumer goods company in a $2 billion deal to focus on strengthening its infrastructure businesses.