In a major development, the Adani Group has sold a 20% stake in AWL Agri Business Limited (formerly Adani Wilmar Ltd) to Wilmar International’s unit, Lence Pte Ltd, in a deal valued at ₹7,150 crore (at ₹275 per share). The transaction reshapes ownership, reinforcing Wilmar’s control over the food and FMCG joint venture.
Deal Overview
- Seller: Adani Commodities LLP (subsidiary of Adani Enterprises)
- Buyer: Lence Pte Ltd (Wilmar International’s subsidiary)
- Deal Value: ₹7,150 crore (₹275 per share)
- New Ownership Structure:
- Wilmar’s holding increases to approximately 64%
- Adani’s stake reduces significantly from 30.4% to around 10–11%
- Remaining shares offered to other pre-identified investors
Ownership Restructuring
- Following this transaction and a previous 13.5% offer-for-sale in January (also at ₹275 per share, raising ₹4,855 crore), Adani’s total divestment in AWL Agri exceeds 33%.
- The sale follows a bilateral agreement allowing stake transfer up to ₹305 per share.
Why the Deal Matters
- Wilmar Gains Majority Control
Wilmar now holds the operational reins to shape AWL’s FMCG and edible oil growth trajectory. - Adani Streamlines Focus
With nearly ₹15,729 crore raised across two deals, Adani is redirecting capital to core infrastructure, energy, and logistics ventures. - Market Stability
The transaction is expected to bring long-term stability to AWL’s share price and strategic focus.
Q1 FY26 Performance of AWL Agri
- Revenue rose 21% year-on-year in Q1 FY26.
- Net profit fell 24% to ₹236 crore due to weak consumer sentiment and volatile commodity prices.
Looking Ahead
- Wilmar’s Focus Areas: Strengthening presence in rice, pulses, and packaged food segments.
- Revenue Goals: Food and FMCG revenue target of ₹7,000 crore in FY26, with ₹10,000 crore planned for FY27.
- Expansion Strategy: Exploring regional acquisitions in central and southern India.
Conclusion
This ₹7,150 crore deal signifies a strategic shift in AWL Agri’s ownership structure and long-term direction. Wilmar’s increased control marks the beginning of a new operational chapter, while Adani realigns its business priorities. Investors should monitor Wilmar’s execution in scaling FMCG operations and AWL’s roadmap for profitability and growth.
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