The Adani Group exited AWL Agri Business, which was formerly Adani Wilmar Ltd, after selling its remaining stake through a large block deal on Friday. Adani Commodities LLP — a subsidiary of the Adani Group, had earlier in the week sold 13% of its total 20% stake to an arm of Wilmar International via an off-market deal valued at ₹4,646 crore. 

The shares of the FMCG business fell by 4% to hit an intraday low of ₹266.45, while a large volume of shares were traded, with 558.10 lakh shares being changed for a value of ₹1,532.71 crore. The current market capitalisation stands at ₹35,143.31 crore. 

“Adani Enterprises Limited (“AEL”), Adani Commodities LLP (“ACL”) and Lence Pte. Ltd., a wholly owned subsidiary of Wilmar International Limited (“Lence”), have entered into a share purchase agreement (“SPA”) in terms of which Lence has agreed to purchase, and ACL has agreed to sell not less than 142,964,647 equity shares representing 11.00% of the issued and paid-up equity share capital of AWL Agri Business Limited (“Company”) held by ACL and up to a maximum of 259,935,721 equity shares representing up to 20.00% 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 (“Sale Shares”), at a price per Sale Share of an amount of INR 275 which shall be payable by Lence to ACL in accordance with the terms set out in the SPA (“Transaction”),” read the statement. As per the statement, the floor price was offered at a 0.63% discount.

With Adani’s exit, Singapore-based Wilmar International has become the sole promoter, holding about 57% of AWL Agri.  

AWL Agri announced its Q2 results, where it recorded a 22% YoY jump in its revenue to Rs 17,605 crore, while PAT fell 22% on a YoY basis to Rs 245 crore, reasoning on account of a strong base quarter. In Q2, segment-wise, revenue from Edible oils rose 26% YoY, and Industry Essentials posted a 19% increase. Food & FMCG revenue declined by 2% as it was impacted by lower non-branded rice exports, one-off G2G rice business in the base year and consolidation of non-basmati rice business. On an LTM basis, the Company delivered normalised operating EBITDA of Rs 2,328 crore. In Q2 FY26, normalised operating EBITDA stood at Rs 559 crore and PAT at Rs 245 crore.