Indian billionaire Gautam Adani and Singapore-based Wilmar International are indeed exploring the sale of a minority stake in their joint venture Adani Wilmar. This is to comply with shareholding regulations in India.
Stake being sold: Up to 13% of Adani Wilmar, potentially in equal stakes by both Adani and Wilmar .
Estimated value: Roughly $670 million .
Time line: The sale could happen as early as the coming months.
This move is likely to bring in new investors and dilute the controlling stake held by Adani and Wilmar (which currently stands at nearly 88% combined).
