Adani Wilmar secured a majority approval from its shareholders to change the name of the company to AWL Agri Business Limited.
"Since 99.99% of the total votes polled are in favour of the above-mentioned resolution, the said resolution is duly passed as a Special Resolution as mentioned in the notice dated 15th January, 2025 with requisite majority," billionaire Gautam Adani’s group said in an exchange filing on February 25.
The rebranding by Adani Group's FMCG unit shows company's renewed focus on the agri-business industry after it announced its exit from FMCG joint venture Adani Wilmar by selling its entire stake to the Singaporean partner and in the open market for over USD 2 billion, in December 2024.
Adani Wilmar got listed on stock exchanges in February 2022 after raising Rs 3,600 crore through an initial share sale. Adani Wilmar Limited (AWL) was established in January 1999 as a joint venture.
Shares of the company traded under selling pressure in today's trading session, down nearly 1 percent in trade.
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