The Adani Group has sold its entire 20% stake in AWL Agri Business Ltd. (formerly Adani Wilmar) to its Singapore-based joint venture partner Wilmar International for ₹7,150 crore. This Adani Wilmar stake sale marks Adani’s complete exit from the fast-moving consumer goods (FMCG) venture. The Adani Wilmar stake sale enables the group to refocus on infrastructure and its core businesses.
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Key Highlights
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Stake Sold: 20% in AWL Agri Business Ltd.
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Buyer: Wilmar International (through its subsidiary, Lence Pte. Ltd.)
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Sale Value: ₹7,150 crore (approx. US $832 million)
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Price Per Share: ₹275
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Shares Sold: 259.9 million
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Adani’s Stake After Deal: 0% (fully exited)
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Wilmar’s Stake After Deal: ~64% (now majority owner)
Strategic Implications
For Adani Group:
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Exit from FMCG: The deal completes Adani’s withdrawal from the edible oil and food products market.
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Focus Shift: The conglomerate is now prioritizing sectors like energy, logistics, infrastructure, data centers, and green hydrogen.
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Capital Recycling: This sale is part of Adani’s broader strategy to divest non-core assets and use the proceeds to reduce debt and fund its rapid infrastructure expansion.
For Wilmar International:
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Stronger Control: Wilmar gains greater strategic control of AWL Agri Business, India’s leading edible oil and food company.
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Expansion Opportunity: This could allow Wilmar to bring in more global products, strengthen branding, and invest in innovation in India’s growing FMCG sector.
About AWL Agri Business (Formerly Adani Wilmar)
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Known for brands like Fortune (India’s largest edible oil brand), Kohinoor, and a range of staples and packaged food products.
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One of India’s top FMCG companies in terms of volume.
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Was a joint venture between Adani Group and Wilmar International until now.
Market Reaction
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On news of the stake sale, shares of AWL Agri saw a gain of over 6% during early market hours.
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Investors see the move as positive for both parties—Adani for streamlined focus and Wilmar for operational clarity.
Official Statement
A Wilmar spokesperson confirmed the transaction and said:
“This strategic acquisition strengthens our long-term commitment to the Indian market and allows us to unlock the full potential of AWL Agri under a unified vision.”
The Adani Group did not comment in detail but had earlier stated that the exit was aligned with its long-term capital allocation strategy.
Financial Impact
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Total Proceeds to Adani (including earlier stake sales): Over ₹15,700 crore
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Valuation of AWL Agri: The deal implies a company valuation of around ₹35,750 crore.
Analysis
This exit by Adani mirrors its recent strategic moves—shedding non-core businesses and doubling down on sectors like renewable energy, airports, data infrastructure, and logistics. Wilmar, on the other hand, strengthens its hold in one of the world’s fastest-growing food and staples markets.
