India's Adani Wilmar fell over 6% in early trade on Tuesday, a day after the Adani Group said it would sell its entire 44% stake in the consumer goods company in a $2 billion deal to focus on strengthening its infrastructure businesses.

Indian billionaire Gautam Adani’s Adani Enterprises is selling its entire stake in Mumbai-listed Adani Wilmar in a $2 billion multi-phased deal with partner Singapore-based Wilmar International.

While Singapore’s Wilmar is going to buy a 31.06 per cent stake in AWL, which manufactures and markets food products under the ‘Fortune’ brand, at a price not more than ₹305 a share, Adani will sell about a 12.

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.

Gautam Adani’s group announced its complete exit from Adani Wilmar Ltd (AWL) on Monday (30 December), selling its entire 43.94 per cent stake in the Fortune brand FMCG joint venture to Singapore-based Wilmar International and through an open market sale.

Shares of Adani Wilmar tumbled nearly 8 per cent on Tuesday after billionaire Gautam Adani's group announced its exit from the FMCG joint venture by selling its entire stake to the Singaporean partner in the open market for over USD 2 billion. The stock tanked 7.95 per cent to Rs 303.30 on the BSE.

The Adani Group is divesting its entire 44 per cent stake in Adani Wilmar, its FMCG joint venture with Singapore-based Wilmar International. This move aims to raise approximately $2 billion, which would be used to fuel investments in core infrastructure sectors like energy, transport, and logistics.