Indian billionaire Gautam Adani and Wilmar International consider selling a 13% stake in Adani Wilmar Ltd for $670m to meet SEBI shareholding regulations.

Indian billionaire Gautam Adani and Wilmar International Ltd are considering selling a 13% stake in their consumer joint venture, Adani Wilmar Ltd, for around $670m. This move aims to adhere to shareholding regulations set by the Securities Exchange Board of India, which require the combined holding to be reduced to 75% by February 2023. The joint venture, established in 1999, produces various household products.