Adani Enterprises Ltd (AEL) announced on Monday its decision to completely exit its 44% stake in Adani Wilmar Ltd (AWL). The stake sale will be executed in two phases: the first involves selling shares to Wilmar International\u2019s subsidiary, Lence Pte Ltd, while the second entails a partial divestment to meet minimum public shareholding requirements.<\/p>\n\n\n\n
Adani Enterprises and its wholly-owned subsidiary, Adani Commodities LLP (ACL), have entered into an agreement with Lence Pte Ltd, a fully-owned subsidiary of Wilmar International. Under the agreement,\u00a0Lence Pte Ltd will acquire up to 31.06% of AWL\u2019s paid-up equity\u00a0shares through a call or put option mechanism.<\/p>\n\n\n\n
Additionally, Adani Enterprises will divest around 13% of its shares in AWL to meet public shareholding norms. Together, these steps will mark Adani Enterprises\u2019 complete exit from its stake in the fast-moving consumer goods (FMCG) business.<\/p>\n\n\n\n
As of December 27, 2024, Adani Wilmar had a market capitalisation of Rs 42,785 crore (approximately $5 billion).<\/p>\n\n\n\n
Following the announcement,\u00a0shares of Adani Enterprises\u00a0surged by 7% to close at Rs 2,585 on Monday. However, Adani Wilmar\u2019s stock declined by 1.81%, settling at Rs 323.25 per share.<\/p>\n\n\n\n
In line with the agreement, the nominee directors of Adani Commodities LLP on AWL\u2019s board will step down. Furthermore, the parties have decided to rebrand Adani Wilmar under a new name. Options under consideration include “AWL Limited,” “AWL Agri Business Limited,” or “Fortune Agri Business Limited.” The final name will require approval from the Ministry of Corporate Affairs.<\/p>\n\n\n\n
Adani Enterprises has indicated that funds from this stake sale will be channelled into its core business sectors, such as energy, utilities, transport, logistics, and other industrial verticals. This aligns with the company\u2019s strategy to strengthen its position in critical infrastructure areas.<\/p>\n\n\n\n
The transaction is subject to regulatory approvals and other customary conditions. Once completed, it will mark a restructuring of the ownership in AWL, which was a joint venture between the Adani Group and Wilmar International.<\/p>\n\n\n\n
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