Billionaire Gautam Adani's group on Monday announced its exit from FMCG joint venture Adani Wilmar by selling its entire stake to the Singaporean partner and in the open market for an estimated over USD 2 billion.

In a statement, Adani Enterprises Ltd said it will sell a 31.06 per cent stake to Wilmar International. Another 13 per cent will be sold in the open market to meet minimum public shareholding requirements.