Adani Enterprises issued an official statement here on Thursday that the Adani Group has fully exited AWL Agri Business (formerly Adani Wilmar Ltd) by selling its entire 20% stake in AWL to Singapore-based Wilmar International for Rs 7,150 crore, at a price of Rs 275 per share.
The remaining 10.42% stake held by Adani Commodities LLP, which is a subsidiary of Adani Enterprises Ltd, will also be sold to a group of pre-identified investors arranged by Wilmar International, the statement mentioned.
The deal follows a 13.5% stake sale in January 2025 at the same price, and gives Wilmar the majority control with a 65% holding in the company.
In December 2024, Adani Enterprises Ltd and Wilmar International’s subsidiary Lence entered into an agreement, under which Lence will acquire a 31.06% stake in AWL held by Adani Commodities Ltd.
Cash raised from the sale will be used by Adani Enterprises Ltd to ‘turbocharge its investments in the core infrastructure platforms in energy and utility, transport and logistics as well as other sectors,’ the company had stated last year.
In January, the conglomerate raised about Rs 4,850 crore after selling 13.5% of its stake. Wilmar International’s subsidiary Lence “will endeavour to bring in strategic partners or investors to purchase the same,” the statement mentioned.