Adani Enterprises on Wednesday sold an additional 13% stake in AWL Agri Business, formerly Adani Wilmar, to a unit of Wilmar International through an off-market transaction. Adani Commodities, a subsidiary of Adani Enterprises, transferred 168 million AWL shares to Lence Pte, a Wilmar International subsidiary, according to an exchange filing. Adani Commodities, AWL and Lence also signed an agreement terminating their existing shareholders’ pact.
The deal is part of a broader divestment plan announced earlier this year, under which Wilmar agreed to buy 11% to 20% of AWL at ₹275 a share.
Performance of AWL shares
AWL shares closed at ₹275.60 on Wednesday, up 2.4% from the previous session. While the company did not disclose the sale price, the implied value at ₹275 a share is about ₹4,646 crore.
Adani Commodities held 20% of AWL before the transaction and now owns 9.09 crore shares, or roughly 7%. Lence’s stake rises to 56.94% after acquiring the additional 13%.
Last week, Lence said it would buy the 13% holding from Adani Commodities for ₹4,650 crore.
Context of the transaction
The transaction follows the Adani Group’s July 2025 announcement of plans to divest a 20% stake in AWL to Singapore-based Wilmar International for ₹7,150 crore as part of a strategy to exit consumer goods and refocus on core infrastructure operations.
