Adani Wilmar Shares Surge Amid Demerger Announcement

Adani Wilmar shares jumped nearly 5% after Adani Enterprises announced a demerger of its food-FMCG division and strategic investments in Adani Commodities to Adani Wilmar. This move aims to focus on the edible oil and food business, unlocking shareholder value. Adani Wilmar reported strong quarterly profits and revenue growth.

Shares of Adani Wilmar surged by 5% in the morning trade on Friday following the announcement by Adani Enterprises to demerge its food-FMCG division and strategic investments into Adani Wilmar.

The equity of the edible oil major climbed to Rs 365.15 apiece on the NSE and Rs 364.25 on the BSE, reflecting market confidence in the demerger strategy aimed at providing greater focus on the food business and unlocking shareholder value.

Regulatory filings on Thursday confirmed that the board has approved the 'Scheme of Arrangement' among Adani Enterprises Ltd, Adani Wilmar, and their respective stakeholders, significantly boosting Adani Wilmar's market performance and financial outlook.

(With inputs from agencies.)