Adani Sells 20% Stake In AWL Agri Business To Wilmar, Exits As Majority Shareholder

Mumbai: Adani has sold its remaining 20 percent stake in AWL Agri Business Limited to Wilmar International, Singapore, at a transaction price of Rs 275 per share. The deal, valued at approximately Rs 7,150 crore, follows Adani’s earlier 13.5 percent stake sale via an Offer for Sale (OFS) in January 2025 at the same price.

With this acquisition, Wilmar International becomes the majority shareholder, raising its stake to around 64 percent in AWL Agri Business Limited. Adani’s exit marks a strategic shift in ownership, positioning Wilmar as the dominant force in the joint agri-venture.

In December 2024, Adani Commodities LLP (ACL), a subsidiary of Adani Enterprises Ltd (AEL), and Lence Pte. Ltd., a subsidiary of Wilmar International, Singapore, entered into a mutual agreement regarding their stakes in Adani Wilmar Limited (AWL). The agreement gave both parties the right to buy or sell each other’s shares in AWL at a price they mutually agree upon, but not exceeding Rs 305 per share. At the time of the agreement, both entities held an equal stake of around 44 percent each, jointly controlling approximately 88 percent of AWL.

Subsequently, in January 2025, AEL/ACL sold 13.5 percent of its stake in AWL at a price of Rs 276.51 per share. This transaction was undertaken to comply with minimum public shareholding norms, ensuring a greater portion of AWL’s shares were held by the public. Following the sale, AEL/ACL's stake in the company dropped to approximately 30.42 percent, while Wilmar retained its 44 percent holding, setting the stage for a potential shift in control.