The Adani Group will raise 71.48 billion rupees ($833 million) by selling up to 20% stake in Mumbai-listed Adani Wilmar Ltd. as it exits non-core activities to focus on the bread-and-butter infrastructure businesses.

On December 30, the Adani group announced its exit from Adani Wilmar in two stages. In the first phase Adani Commodities would sell such stake so as to comply with the minimum public shareholding norm and in the second phase Adani Enterprises would sell the 31 per cent stake held by it to its joint venture partner Wilmar International.

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.

The Adani Group will raise Rs 7,148 crore from sale of up to 20 per cent stake in FMCG firm Adani Wilmar in the open market as part of its strategy to exit non-core activities to focus on infrastructu