Adani Group’s Exit from AWL Agri Business

Adani Group has fully exited its joint venture with Wilmar International, AWL Agri Business (earlier known as Adani Wilmar), by offloading its remaining 10.42% stake through open market transactions on the BSE. The stake, sold by Adani Commodities LLP for ₹3,732 crore at an average price of ₹275.5 per share, marks the group's complete exit from the fast-moving consumer goods (FMCG) sector. The sale was executed in 11 tranches, involving 13.54 crore equity shares. Dubai-based Shajaeatan Investment FZCO emerged as the largest buyer, acquiring 8.52% of the company for ₹3,049.99 crore. Other buyers included Quant Mutual Fund, IDFC MF, Bandhan MF, Jupiter Fund Management, Morgan Stanley Asia Singapore, Franklin Templeton, Vanguard, and Duro Capital. This move follows a prior transaction in April where Adani had sold a 20% stake to Wilmar International for ₹7,150 crore. Earlier, in January, the group had offloaded a 13.51% stake via an offer for sale route, fetching ₹4,855 crore. With these sales, Adani has divested its entire 44% stake in AWL Agri Business. AWL Agri Business operates under the Fortune brand, offering edible oils and other food products. During FY2024-25, it reported a net profit of ₹1,225.81 crore on total income of ₹63,910.28 crore. The strategic exit aligns with Adani Group’s broader focus on infrastructure and core energy sectors, as it continues to streamline operations and concentrate on high-growth areas.