Adani Group sells 13.51% stake in Adani Wilmar as shares remain flat

Adani Commodities LLP has sold a 13.51% stake in Adani Wilmar, totaling over 17.5 million shares. This sale occurred on January 10 and 13, 2025, through a regulated offer for sale mechanism, but Adani Wilmar's stock remained flat. Despite the stake sale, shares of Adani Wilmar did not respond positively, contrasting with gains in other Adani Group stocks. The stock opened at ₹275 but fell to a low of ₹272, remaining significantly below its 52-week high. Other Adani Group companies saw a rise of over 5% after Hindenburg Research announced it would cease operations. This follows a tumultuous period for the group, marked by allegations of financial misconduct and a major sell-off in 2023.