It’s not just about perceived difficulty in raising money or reduce high debt levels. Analysts say the business does not sit well with the overall infrastructure piece of the conglomerate.

The Adani Group will sell its stake in consumer goods firm Adani Wilmar to joint venture partner Wilmar International for 123.14 billion rupees ($1.44 billion) as the Indian conglomerate sharpens its focus on infrastructure projects.

Adani Enterprises announced its decision to fully exit its joint venture with Wilmar International, known as Adani Wilmar, where it held a 44% stake.

Adani Group exits its joint venture, Adani Wilmar, by selling its entire stake to Wilmar International and in the open market for over USD 2 billion. This move led to a significant drop in share prices.

Shares of Adani Wilmar hit a low of ₹303.30 on the BSE, taking the market cap of Fortune edible oil producer to under ₹40,000 crore.

The funds from the stake sale will strengthen the incubation capacity of AEL and further sharpen the focus on consumer services under airports and Adani Digital.

Adani Enterprises plans to sell its 44% stake in Adani Wilmar through a $2 billion deal with Wilmar International. The sale will be divided, with 13% sold to the public and 31% to Wilmar. The funds will focus on core infrastructure projects.

Adani Enterprises Ltd (AEL) is exiting its joint venture Adani Wilmar Ltd (AWL) by selling its entire 43.94 per cent equity stake.

India's Adani group is exiting its consumer goods joint venture with Singapore's Wilmar International in a $2 billion deal as it looks to bolster its infrastructure business. The divestment marks the Indian conglomerate's first major transaction since the U.