Adani Group has sold a 20% stake in AWL Agri Business Ltd (formerly known as Adani Wilmar Ltd) to Wilmar International, Singapore, for Rs 7,150 crore, according to a stock exchange filing.
Adani had in December announced divestment of its entire 44% stake in Adani Wilmar in order to sharpen its focus on core infrastructure businesses.
Adani Commodities LLP (ACL), subsidiary of Adani Enterprises Ltd (AEL), and Lence Pte Ltd, subsidiary of Wilmar International, Singapore entered into an agreement. They gave each other the option to buy or sell AEL/ACL's shares in AWL (Adani Wilmar Limited) later, at a price they both agree on - but not more than Rs 305 per share. The two together held around 88 per cent in the company (44 per cent each).
In January 2025, AEL/ACL sold 13.5% of its shareholding in AWL at ₹276.51 per share. This was done so that more of the company's shares are owned by the public, as required by minimum public shareholding requirements.
After this sale, ACL/AEL owned about 30.42% of AWL.
Now, Adani Group has sold a 20% stake in AWL Agri Business to Singapore-based Wilmar International at ₹275 per share in a ₹7,150 crore deal.
The stake sale is part of Adani Group's plan to exit the FMCG business.
Following the latest transaction, Wilmar International will become the majority shareholder in AWL Agri with a 64 per cent holding, overtaking Adani.
Adani Enterprises Ltd in a stock exchange filing said it, ACL and Lence have entered into a share purchase agreement (SPA), under which "Lence has agreed to purchase, and ACL has agreed to sell up to a maximum of 259,935,721 equity shares representing up to 20% of the issued and paid-up equity share capital of AWL Agri Business Limited (formerly known as Adani Wilmar Limited) held by ACL and not less than 142,964,647 equity shares representing 11% of the issued and paid-up equity share capital of the AWL, at a price per sale share of an amount of ₹275."
