Gautam Adani plans next big move, has kept aside Rs 8388 crore for...

Adani Group has resumed its rapid business expansion after moving past the controversies stirred by Hindenburg Research. The group has reportedly set aside $1 billion (around Rs 8,388 crore) to strengthen its food and FMCG (Fast-Moving Consumer Goods) business.

According to a report by Mint, the group plans to capitalise on the rapidly growing packaged consumer goods market in the country.

Adani Wilmar, the FMCG arm of Adani Group, is preparing to acquire at least three companies in the southern and eastern regions of India. These acquisitions will focus on ready-to-cook foods and packaged edible brands. Adani Wilmar is a joint venture between the Adani Group and Singapore's Wilmar Group, known for its popular Fortune oil and Kohinoor rice brands.

According to reports, recently, Adani Wilmar was considering selling a stake in the company but has now shifted its focus towards aggressive capital expenditure. The group's aim is to increase the revenue share from its consumer-facing businesses, including food, FMCG, commodities, and airport operations, to 25-30% of total revenue.

The report indicates that Adani Wilmar plans to acquire several companies over the next two to three years, particularly in the southern and eastern markets. The group is expected to spend between $800 million and $1 billion on these acquisitions, with each company valued at around $200 to $250 million.