CORPORATE
Adani to exit AWL in a Rs 10,874-crore deal with joint venture partner Wilmar
- IBJ Bureau
- Jul 18, 2025
Gautam Adani-led conglomerate Adani Enterprises has announced a complete exit from its FMCG joint venture, Adani Wilmar (now called AWL Agri Business), with Singapore-based Wilmar International, in a Rs 10,874-crore deal.
The transaction will see Adani’s subsidiary, Adani Commodities (ACL), selling its 20 per cent stake in AWL Agri Business.
Adani Enterprises has said in a statement that it has signed an agreement with Lence, a unit of Wilmar International, to sell 20 per cent of its shares in AWL at Rs 275 per share, amounting to Rs 7,150 crore. The remaining shares will be sold to a “set of pre-identified investors”, according to a stock exchange filing.
“Lence has agreed to purchase, and ACL has agreed to sell up to a maximum of 25,99,35,721 equity shares, representing up to 20 per cent of the issued and paid-up equity share capital of AWL Agri Business ... and not less than 14,29,64,647 shares, representing 11 per cent ... at Rs 275 per share,” the filing has said.
The Adani Group and Wilmar previously had an agreement that allowed either party to buy or sell shares in their joint venture, AWL, at a price not exceeding Rs 305 per share. Both had held a 44 per cent stake each, together owning nearly 88 per cent of the company.
Under the new arrangement, Wilmar, through its subsidiary Lence, is set to increase its stake in AWL to as much as 63.94 per cent, becoming the controlling shareholder.
Coupled with the Rs 4,855 crore raised from a share sale in January 2025, the total value realised from Adani’s full exit from AWL stands at Rs 15,729 crore.
The divestment is a part of the Adani Group’s broader strategy to focus on its core infrastructure and energy businesses. The group had first announced its intention to exit AWL in December 2023.
Report By
View Reporter News