Business Desk: Adani’s FMCG Exit: Wilmar Takes Solo Command
In a swift move that reshapes one of India’s top consumer goods players, the Adani Group has fully divested its stake in AWL Agri Business Ltd, formerly Adani Wilmar Ltd. This completes a phased withdrawal from the fast-moving consumer goods sector, signaling a return to core infrastructure strengths.
The latest block deal on November 20 saw the sale of the remaining 7 percent stake at Rs 275 per share, drawing keen interest from institutional buyers across borders.
Phased Divestment Unfolds
Adani‘s journey out began earlier this year with plans to offload up to 20 percent, but the pace quickened recently. Just days ago, a 13 percent stake moved to Wilmar International’s arm, Lence Pte Ltd, in an off-market transaction worth Rs 4,646 crore.
That step reduced holdings to 7 percent before the final clean-out. Overall, Adani Enterprises realized about Rs 15,707 crore from the entire 44 percent exit, bolstering its balance sheet for bigger bets elsewhere.
Strong Buyer Appetite Fuels the Deal
Demand poured in from a mix of domestic heavyweights and global players. Key participants included ICICI Prudential Mutual Fund, SBI Mutual Fund, Tata Mutual Fund, along with international names like Vanguard, Charles Schwab, and funds from UAE and Singapore markets.
This broad support highlights confidence in AWL’s everyday essentials lineup, from edible oils to staples like flour and sugar. The transaction also ended the 1999 shareholders’ agreement between Adani and Wilmar, paving the way for streamlined governance.
Wilmar Emerges as Sole Promoter
With Adani out, Singapore-based Wilmar International now holds 57 percent, positioning it as the unchallenged lead owner. This shift turns AWL into a multinational-led entity, leveraging Wilmar’s global supply chains for India’s vast distribution network.
Analysts point to steady fundamentals, including the “Fortune” brand’s dominance in edible oils. They foresee a potential stock rebound now that ownership uncertainties have cleared, with fresh institutional inflows likely to stabilize trading.
Market Echoes the Transition
AWL shares dipped over 1 percent on November 21, closing at Rs 273.60 amid the news flow. Yet, experts view this as a temporary blip, with the single-promoter setup expected to draw more long-term capital and reduce volatility tied to past overhangs.
For Adani, the exit underscores a deliberate pivot. Funds unlocked here could fuel expansions in ports, energy, and airports, keeping the group laser-focused on high-growth arenas.