Wilmar to Acquire 20% in AWL Agri Business as Adani Divests, Marks Full Exit from Consumer Goods

New Delhi, August 28 – Wilmar International, through its subsidiary Lence Pte Ltd, has sought approval from CCI (Competition Commission of India) for acquiring a 20% stake in AWL Agri Business Ltd from the Gautam Adani-led Adani Group. The announcement comes after the Adani Group had earlier announced the divestment of a 20% stake in AWL Agri Business (valued at ₹7,150 crore), in reference to its broader strategy to exit the FMCG sector and focus on infrastructure ventures.

At 11:40 AM, the shares of the Adani Group traded at ₹2309.10 (1.63% higher from the previous day’s closing price). The stock has surged by more than 10% in the past six months.

Details of the Transaction

The regulatory filing highlights Lence Pte’s proposal to acquire a minimum of 11%, which can reach up to 20%, of the AWL Agri Business. The Wilmar Group already holds a 43.94% stake in the company. Following this deal, the holding will increase by between 54.94% and 63.94%, depending on the actual stake acquired, thereby making it the majority owner of the enterprise.

Adani Group’s Exit from FMCG

Adani Commodities LLP (ACL), which is a subsidiary of Adani Enterprises, currently owns 30.42% of AWL Agri Business. The company has already sold 13.51% stake in January through an offer for sale route (raising ₹4855 crore). The proposed sale to Wilmar is valued at ₹275 per share, totaling ₹ 7,150 crore.

ACL is also preparing to divest its remaining stake (10.42%) and will completely exit the venture. Overall, the Adani Group will raise over ₹15700 crore from its 44% stake in AWL Agri Business.

Strategic Shift for Wilmar

With this acquisition, Wilmar International will become the majority shareholder, holding around 64 percent ownership, overtaking the Adani Group. The Singapore-headquartered agribusiness giant currently operates in India only through AWL Agri Business and Shree Renuka Sugars Ltd.

AWL Agri Business, formerly Adani Wilmar Ltd, markets edible oils and food products under the Fortune brand. For FY25, the company reported a net profit of Rs 1,225.81 crore on revenue of Rs 63,910.28 crore.

The Adani Group’s exit marks a decisive move to streamline its focus on infrastructure, while Wilmar strengthens its leadership position in India’s agribusiness sector. Completion of the transaction is subject to CCI approval.

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