ITC can acquire 44% shares of Adani Wilmar

According to recent reports, it was revealed that Adani Group is considering selling 44% of its company, Adani Wilmar.

ITC can acquire 44% shares of Adani Wilmar.

According to the report from Financial Express, Adani Group is considering selling 43.97% of its oil manufacturing business-based company because the group has asked to focus on its energy business. The group has talked to some investors.

ITC, a conglomerate with a significant revenue stream in the fast-moving consumer goods (FMCG) sector, has expressed a keen interest in acquiring the stake of Adani Wilmar. The move is part of ITC’s strategy to further boost its presence in the FMCG industry and solidify its market position. By acquiring Adani Wilmar’s stake, ITC aims to expand its product portfolio and tap into new markets, leading to increased profitability and growth opportunities.

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The Adani Group has the potential to sell its shares for an estimated range of 20000 to 24000 crores.

Some Details about Adani Wilmar and ITC

  1. Adani Wilmar:
    • Adani Wilmar Limited is a joint venture between the Adani Group and Wilmar International Limited.
    • Adani Wilmar is primarily engaged in the business of processing, refining, and marketing edible oils. Some of its well-known brands include Fortune, King’s, and Raag, among others.
    • The company has a significant presence in the edible oil market in India and has expanded its operations globally.
  2. ITC Limited:
    • ITC Limited is a diversified conglomerate in India with a presence in various sectors such as FMCG, hotels, paperboards and packaging, agribusiness, and information technology.
    • In the FMCG sector, ITC has a wide range of products, including food, personal care items, and stationery. Some of its popular brands include Aashirvaad, Sunfeast, and Classmate.
    • ITC, traditionally a tobacco company, has been diversifying its portfolio to reduce reliance on tobacco-related products.

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