Adani Wilmar shares jump 10% as Adani Enterprises to demerge food-FMCG biz

Adani Wilmar shares closed 10 per cent up at their upper circuit in Friday’s trade at Rs 383.15 per share on NSE after the boards of directors of Adani Enterprises Limited (AEL), the flagship company of the Adani group, and Adani Wilmar Limited (AWL), a food company, on Thursday approved the scheme of arrangement under which AEL will transfer its 43.94 per cent stake held in Adani Wilmar to its own shareholders.

With this, the existing shareholders of AEL will hold shares directly in Adani Wilmar. Post-demerger, AEL shareholders will receive 251 shares of AWL for every 500 shares of AEL, or in that ratio.

In a notice to the stock exchange on Thursday, AEL said it continues to incubate new businesses and create sustainable and long-term value for its stakeholders.