Adani Enterprises cancels demerger of food FMCG business into Adani Wilmar due to MPS non-compliance.

Adani Enterprises has canceled its plan to demerge its food FMCG business into Adani Wilmar due to non-compliance with India's minimum public shareholding (MPS) requirement. The demerger aimed to allow Adani promoters to control Adani Wilmar, which currently has 87.9% promoter ownership. The promoters must reduce their stake to 75% by 2025. Additionally, Adani Enterprises approved a ₹2,000 crore public issuance of non-convertible debentures.

October 29, 2024
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