The Adani Group is set to fully exit AWL Agri Business, selling its entire stake to joint venture partner Wilmar International for Rs 10,874 crore.
A Quarter-Century Partnership Ends
This significant move brings to a close one of India’s longest-running joint ventures, which first began in 1999. The Adani Group’s departure marks a major shift in the consumer-focused agri-business sector.
Wilmar International, a Singapore-based company, will now become the sole controlling shareholder. Their stake in the company will increase from 44 percent to 64 percent, making them the majority owner of AWL Agri.
Adani’s Strategic Refocus
Adani had indicated its intention to sell its stake in December 2024. The group aims to sharpen its focus on its core infrastructure businesses.
This exit from AWL Agri signifies Adani’s strategic move away from the Fast-Moving Consumer Goods (FMCG) space.
Breaking Down the Deal
Adani Commodities, a unit of Adani Enterprises, currently holds 30.42 percent in AWL Agri. As part of this transaction, they will sell 20 percent of this to Wilmar’s subsidiary, Lence.
This portion of the sale is valued at Rs 7,150 crore, with shares changing hands at Rs 275 each. The remaining 10.42 percent will be sold to a group of pre-identified investors, though their identities have not been disclosed by Adani.
Previous Steps in the Exit
Earlier in January 2025, Adani had already reduced its holding in AWL Agri. They sold 13.5 percent of their stake through an Offer for Sale (OFS) at the same price of Rs 275 per share.
This previous sale helped meet regulatory requirements for minimum public shareholding, bringing their stake down to the current 30.42 percent before this final sale.
- The Adani Group is selling its entire stake in AWL Agri Business for Rs 10,874 crore.
- Wilmar International will increase its ownership to 64%, becoming the sole controlling shareholder.
- This marks the end of a 25-year joint venture between Adani and Wilmar.
- Adani is exiting to refocus on its core infrastructure businesses.
With this transaction complete, Wilmar International takes full control of AWL Agri, solidifying its position in the agribusiness sector.
