Adani Enterprises To Exit Adani Wilmar, Divests 44% Stake

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Adani Enterprises Ltd (AEL) announced on Monday that it will exit Adani Wilmar Ltd (AWL) by divesting its entire 44% stake in the joint venture. The sale is expected to raise over $2 billion.

AEL will sell 13% of its shares in Adani Wilmar through an offer for sale. This move aims to meet minimum public shareholding requirements. Wilmar International Ltd has also agreed to acquire the remaining 31% stake held by Adani Enterprises in the edible oil maker.

Agreement With Wilmar International

Adani Enterprises, Adani Commodities LLP, and Lence Pte Ltd, a subsidiary of Wilmar International, signed an agreement for the stake sale. Lence will acquire a maximum of 31.06% of Adani Wilmar’s equity shares. The sale price will not exceed ₹305 per share, as per the agreement.

AEL’s board has also accepted the resignation of ACL’s nominee directors from Adani Wilmar’s board. The agreement includes plans to change the name of Adani Wilmar Ltd, signaling a new phase for the company.

Adani Enterprises will use the proceeds to strengthen its infrastructure platforms in energy, utilities, transport, and logistics. The company remains committed to playing a key role in India’s growth story.

Adani Wilmar, with a market capitalization of ₹42,785 crore, boasts 100% urban coverage and a presence in 30,600 rural towns. It exports to over 30 countries globally. The divestment aligns with Adani’s strategy to focus on its core infrastructure ventures.

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Ajaypal Choudhary