Adani Enterprises has sold a 13% stake in AWL Agri Business Ltd to Lence Pte Ltd, a fully owned subsidiary of Singapore-based Wilmar International, for ₹4,646 crore. The transaction was completed through an off-market deal at around ₹275 per share.
Before this sale, Adani’s subsidiary, Adani Commodities LLP, held a 20% stake in AWL Agri Business. After selling 13%, the Adani Group’s stake drops to about 7%, while Wilmar’s shareholding rises to nearly 57%, giving it stronger control over the company.
The deal also results in the termination of the long-standing shareholders’ agreement between Adani and Wilmar, which had been in place since 1999. The Competition Commission of India had already approved the stake transfer.
This decision is part of Adani’s broader strategy to fully exit the consumer goods and food products business and refocus on its core areas such as infrastructure, energy, and logistics. In recent months, Adani had outlined plans to divest up to 20% of its holding in AWL Agri Business to Wilmar at the same valuation.
AWL Agri Business which was formerly known as Adani Wilmar, is known for selling everyday food essentials including edible oils, rice, flour, pulses and sugar under well-known brands. With this transaction, Wilmar International becomes the clear majority owner and will now take the lead in driving the company’s future strategy.