Mumbai, Oct. 29 -- The board of Adani Enterprises on Tuesday withdrew its earlier decision to spin off the shareholding of the group's fast-moving consumer goods (FMCG) unit Adani Wilmar (AWL) and transferring the stake to its shareholders.

Adani Wilmar, which has 87.9% promoter shareholding, first needs to meet its minimum public shareholding (MPS) requirement, the company said. India's markets regulator Securities and Exchange Board of India (Sebi) requires all listed companies to maintain a minimum public shareholding of 25%.

"During the period in which AWL is implementing the MPS strategy in accordance with the relevant SEBI Circulars, in order to offer directional clarity to shareholders, the draft Scheme is hereby withdrawn," the ...