Adani Enterprises shares update on AWL Agri Business stake sale; key details
The shareholding of ACL in AWL as of the date is 39,54,18,121 equity shares, constituting 30.42 per cent of the paid-up equity share capital of AWL, Adani Enterprises said.
- Jul 17, 2025,
- Updated Jul 17, 2025 3:54 PM IST
Adani Enterprises on Thursday informed stock exchanges about the sale of up to 2,59,935,721 shares or 20 per cent stake in AWL Agri Business Ltd (formerly Adani Wilmar) to Wilmar International, Singapore by Adani Commodities (ACL), at Rs 275 per share for a cash realisation of up to Rs 7,148.23 crore.
The consummation of the transaction is subject to customary conditions precedent, including Lence obtaining all applicable anti-trust approvals in relation to acquisition of the sale shares, Adani Enterprises said in a note.
AEL's wholly-owned arm Adani Commodities and Lence Pte owned 43.94 per cent stake each in Adani Wilmar Ltd at the end of September quarter last year. In January 2025, Adanis sold 13.5 per cent stake via offer for sale (OFS) at Rs 275 per share, leaving it with 30.44 per cent.
As permitted under the terms of the agreement, ACL had sold 1,75,601,314 equity shares, representing 13.51 per cent of the existing paid-up equity share capital of AWL through the OFS process at the price on Rs 276.51 per equity share, resulting in the shareholding of the public shareholders of AWL increasing to 25.30 per cent, this meeting the minimum public shareholding requirement.
That transaction raised Rs 4,855.55 crore.The shareholding of ACL in AWL as of the date is 39,54,18,121 equity shares, constituting 30.42 per cent of the paid-up equity share capital of AWL, Adani Enterprises said.
Adani Enterprises said its has board approved the execution of the share purchase agreement to be signed by and amongst the company, ACL and Lence, in terms of which Lence agreed to purchase, and ACL has agreed to sell not less than 1,42,964,647 equity shares representing 11 per cent of the issued and paid-up equity share capital of AWL held by ACL and up to a maximum of 2,59,935,721 equity shares, representing up to 20 per cent of the issued and paid-up equity share capital of AWL, such final number of equity shares to be determined by Lence in its absolute discretion, at a price per sale share of an amount of Rs 275, which shall be payable by Lence to ACL in accordance with the terms set out in the SPA.
"In respect of the sale shares between 11 per cent and 20 per cent held by ACL in the paid up equity share capital of AWL, not purchased by Lence, Lence will endeavour to bring in strategic partners / investors to purchase the same. In addition to the above, the residual 10.42 per cent of the issued and paid-up equity share capital of AWL currently held by ACL, will be sold to a set of pre-identified investors, prior to the consummation of the above transactions," AEL said.
Pursuant to completion of the transactions, ACL would completely exit AWL and consequently, AWL will cease to be the associate company of ACL and cease to be the associate of the AEL. The aforesaid transactions shall result in a cash realization of Rs 10,874 crore, AEL said.
Post-transaction, Wilmar International is expected to be the majority stakeholder in AWL Agri, raising its shareholding to 64 per cent, overtaking Adani.
Adani Enterprises on Thursday informed stock exchanges about the sale of up to 2,59,935,721 shares or 20 per cent stake in AWL Agri Business Ltd (formerly Adani Wilmar) to Wilmar International, Singapore by Adani Commodities (ACL), at Rs 275 per share for a cash realisation of up to Rs 7,148.23 crore.
The consummation of the transaction is subject to customary conditions precedent, including Lence obtaining all applicable anti-trust approvals in relation to acquisition of the sale shares, Adani Enterprises said in a note.
AEL's wholly-owned arm Adani Commodities and Lence Pte owned 43.94 per cent stake each in Adani Wilmar Ltd at the end of September quarter last year. In January 2025, Adanis sold 13.5 per cent stake via offer for sale (OFS) at Rs 275 per share, leaving it with 30.44 per cent.
As permitted under the terms of the agreement, ACL had sold 1,75,601,314 equity shares, representing 13.51 per cent of the existing paid-up equity share capital of AWL through the OFS process at the price on Rs 276.51 per equity share, resulting in the shareholding of the public shareholders of AWL increasing to 25.30 per cent, this meeting the minimum public shareholding requirement.
That transaction raised Rs 4,855.55 crore.The shareholding of ACL in AWL as of the date is 39,54,18,121 equity shares, constituting 30.42 per cent of the paid-up equity share capital of AWL, Adani Enterprises said.
Adani Enterprises said its has board approved the execution of the share purchase agreement to be signed by and amongst the company, ACL and Lence, in terms of which Lence agreed to purchase, and ACL has agreed to sell not less than 1,42,964,647 equity shares representing 11 per cent of the issued and paid-up equity share capital of AWL held by ACL and up to a maximum of 2,59,935,721 equity shares, representing up to 20 per cent of the issued and paid-up equity share capital of AWL, such final number of equity shares to be determined by Lence in its absolute discretion, at a price per sale share of an amount of Rs 275, which shall be payable by Lence to ACL in accordance with the terms set out in the SPA.
"In respect of the sale shares between 11 per cent and 20 per cent held by ACL in the paid up equity share capital of AWL, not purchased by Lence, Lence will endeavour to bring in strategic partners / investors to purchase the same. In addition to the above, the residual 10.42 per cent of the issued and paid-up equity share capital of AWL currently held by ACL, will be sold to a set of pre-identified investors, prior to the consummation of the above transactions," AEL said.
Pursuant to completion of the transactions, ACL would completely exit AWL and consequently, AWL will cease to be the associate company of ACL and cease to be the associate of the AEL. The aforesaid transactions shall result in a cash realization of Rs 10,874 crore, AEL said.
Post-transaction, Wilmar International is expected to be the majority stakeholder in AWL Agri, raising its shareholding to 64 per cent, overtaking Adani.