Adani Group and Wilmar International may sell 13% stake in JV

19 Jul 2024 CW Team

Billionaire Gautam Adani and Singapore-based food processing giant Wilmar International are in early discussions with banks to sell a minority stake in their consumer joint venture, Adani Wilmar. This move aims to help the company comply with shareholding regulations, according to sources familiar with the matter.

The owners are considering selling equal stakes totalling 13% in Adani Wilmar, valued at approximately $670 million. The sale could occur in the coming months. Shares of Adani Wilmar have declined 7% this year, bringing the company's valuation to about $5 billion.

The stake sale could be executed in one or multiple tranches, depending on investor interest. Adani and Wilmar have until February next year to reduce their combined holding to 75%, in line with SEBI regulations. Details such as the size of the stake sale and its timing are still being finalised. Representatives for Adani Group and Wilmar International declined to comment, and Adani Wilmar did not provide an immediate response. (Source: ET)

Infrastructure Urban

19 May 2025

Postal Dept Unveils Stamp Honouring 125 Years of Kodaikanal Observatory

The Department of Posts is proud to release a commemorative postage stamp celebrating 125 years of the Kodaikanal Solar Observatory (KSO). Recognising the legacy of the KSO through this special stamp is a fitting tribute to one of India鈥檚 most significant scientific institutions and highlights the nation鈥檚 long-standing contribution to global science.The Commemorative stamp was released by S Rajendra Kumar, Chief Postmaster General, Karnataka Circle in the gracious presence of A S Kiran Kumar, Chairperson, Governing Council, IIA and Former Chairman, ISRO and other esteemed guests at Indian..

Infrastructure Urban

19 May 2025

IIFT Sets Up First Overseas Campus and Expands Global Reach in Dubai

The Indian Institute of Foreign Trade (IIFT), an autonomous body under the Ministry of Commerce and Industry, Government of India, has announced the establishment of its first overseas campus in Dubai, United Arab Emirates. This marks a key step in expanding IIFT鈥檚 global presence and strengthening India鈥檚 engagement in international business education.This historic development has been made possible with the approvals from the Ministry of Education, and No Objection Certificates from the Ministry of External Affairs, Ministry of 亚博体育官网首页 Affairs, and the University Grants Commission. It marks..

Infrastructure Energy

19 May 2025

KEC International Bags Rs 11.33 Bn Transmission & Distribution Orders

KEC International, a prominent global infrastructure EPC company and a part of the RPG Group, announced that it had secured new transmission and distribution (T\&D) project orders worth Rs 11.33 billion in India. The company鈥檚 shares were expected to draw attention on Monday, May 19.The newly won orders include a significant contract from Power Grid Corporation of India (PGCIL) for the construction of a 卤800 kV HVDC transmission line along with a 765 kV GIS substation. Additionally, KEC International secured an order from a leading private developer for a 400 kV Quad transmission line.V..