The Adani Group has fully exited AWL Agri Business and sold 20 percent stake to Singapore-based Wilmar International for Rs 7,150 crore, at a price of Rs 275 per share, Adani Enteprises said in a statement on July 17.
The remaining 10.42% stake held by Adani Commodities LLP, subsidiary of Adani Enterprises Ltd, will be sold to a group of pre-identified investors arranged by Wilmar, according to the statement.
Shares of AWL Agri Business, formerly Adani Wilmar, are higher by over 5 percent, supported by record-high revenue on better realization from edible oil and expansion plans, even as brokerage reactions have been mixed to the quarterly results.
The deal follows a 13.5% stake sale in January 2025 at the same price, and hands Wilmar the majority control with a 65% holding in the company. Adani Enterprises, the flagship company of the Adani Group, had in December 2024 announced its decision to exit the joint venture with Singapore-based Wilmar International.
In December 2024, ACL and Wilmar International's subsidiary Lence entered into an agreement, under which which Lence will acquire 31.06 per cent stake in AWL held by ACL. Funds raised from the proceeds will be used by AEL to 'turbocharge its investments in the core infrastructure platforms in energy & utility, transport & logistics and other adjacencies in primary industry,' the company said last year.
In January, the conglomerate raised about Rs 4,850 crore after selling 13.5 per cent of its stake. The current sale of 20 per cent, leaves ACL with 10.42% stake, which will be sold to a set of pre-identified investors, the company said in a statement. Wilmar's subsidiary Lence "will endeavour tobring in strategic partners / investors to purchase the same."
The companies have also formally terminated all earlier shareholder and inter-se agreements, some of which dated back to 1999.
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