Adani to acquire 67% stake in Omkar Chemicals

New Delhi: Edible oil major Adani Wilmar Ltd will acquire a 67 per cent stake in Omkar Chemicals Industries at an enterprise value of Rs 56 crore.

Adani Wilmar, a joint venture between Adani Group and Singapore’s Wilmar Group, is one of the largest consumer food FMCG companies in India. The company has a diversified product portfolio offering most of the primary kitchen essentials, including edible oil, wheat flour, rice, pulses, chickpea flour (besan) and sugar.

It is also a leading player in oleochemicals.

In a regulatory filing on Thursday, Adani Wilmar said it has signed the share subscription and share purchase agreement to take a majority stake of 67 per cent in Omkar Chemicals Industries Pvt Ltd, a speciality chemicals company.

The acquisition is expected to be completed within 3-4 months, “at an enterprise value of Rs 56.25 crore (subject to closing adjustments thereto) to be paid in cash”.