Adani Enterprises Ltd (AEL) has entered into an agreement with Lence Pte Ltd, a subsidiary of Wilmar International, for the sale of its stake in Adani Wilmar Ltd (AWL). Under the agreement, Lence will acquire up to 31.06% of AWL’s paid-up equity shares held by Adani Commodities LLP (ACL), a wholly-owned subsidiary of AEL, as part of a call or put option.
Additionally, AEL will divest around 13% of AWL shares to comply with public shareholding requirements, leading to AEL’s complete exit from its 44% stake in Adani Wilmar. The transaction follows a resolution by AEL’s board acknowledging the resignation of ACL’s nominee directors from AWL’s board. Further steps will be taken to change the name of Adani Wilmar.
As of December 27, 2024, Adani Wilmar had a market capitalization of INR 42,785 crores (US$ 5.0 billion). The divestment proceeds will fuel AEL’s investments in its core infrastructure sectors, including energy, utilities, transport, logistics, and other growth areas in primary industries.
AEL and Wilmar jointly built Adani Wilmar, which is now the largest Food FMCG player in India, with a vast distribution network and presence across urban and rural India. Adani Wilmar also exports to over 30 countries globally.
