Adani to exit AWL Agri, sells stake to Wilmar for Rs 10,874 crore

By | July 18, 2025
Adani exits AWL Agri stake, focuses on infrastructure growth

The Adani Group has officially ended its long-standing partnership with Wilmar International by exiting AWL Agri. It sold its remaining 30.42% stake for ₹10,874 crore. This move gives Wilmar near-complete control of the company and marks a strategic shift for both entities.

A 20-Year Partnership Ends

Adani Wilmar began in 1999 as a joint venture between Adani Group and Wilmar International. Together, they built one of India’s biggest FMCG companies. AWL’s product line includes household staples like Fortune edible oils and Aashirvaad atta.

In December 2024, Adani announced its plan to step away from the consumer goods business. The goal was to refocus on core sectors like infrastructure, power, and logistics. With this deal now complete, Adani has fully exited the joint venture.

Deal Highlights

The ₹10,874 crore transaction involved two parts:

  • Wilmar’s Singapore arm, Lence Pte Ltd, bought a 20% stake.
  • Institutional investors purchased the remaining 10.42%.

Earlier in January 2025, Adani sold a 13.5% stake for ₹4,855 crore through open market sales. Altogether, the group has earned around ₹15,729 crore from its total exit.

Why Adani Stepped Away

The Adani Group is now focused on infrastructure, energy, ports, and logistics. These sectors align with its long-term growth strategy. Consumer goods, while profitable, didn’t match the group’s core strengths.

In a public statement, Adani Enterprises confirmed that the exit would allow them to reinvest in high-growth areas. The move is also part of a broader plan to simplify operations and reduce business complexity.

Since the 2023 Hindenburg report, Adani has taken clear steps to rebuild investor trust. Selling non-core assets is one such measure.

Wilmar’s New Position

Wilmar now controls close to 64% of AWL. This ownership gives it freedom to shape the company’s future strategy. As a major agri-business player in Asia, Wilmar can now focus on scaling operations in India without restrictions.

Analysts believe Wilmar will expand AWL’s product range. The company may also target export markets and introduce premium offerings.

Market and Investor Reaction

AWL shares surged by nearly 7% on the Bombay Stock Exchange after the deal’s announcement. Investors welcomed the clarity in ownership. They also see new growth opportunities for AWL under Wilmar’s full control.

Brokerages describe the transaction as a “win-win.” Adani gets capital for expansion, and Wilmar gains strategic control of a strong Indian brand.

Financial Snapshot

  • Stake sold by Adani: 30.42%
  • Price per share: ₹275
  • Deal value: ₹10,874 crore (July 2025)
  • Total exit proceeds: ₹15,729 crore (including January sale)
  • Wilmar’s new holding: ~64%

Industry Impact

This exit could signal a larger trend in the Indian FMCG sector. As large corporates reevaluate their portfolios, we may see more strategic exits and consolidations.

AWL competes with giants like HUL, Tata Consumer, and ITC. Wilmar’s deep supply chain network and full control could help AWL gain market share and improve margins.

What Lies Ahead

This deal closes a significant chapter for both Adani and Wilmar. Adani leaves the consumer goods sector with strong returns. It now redirects focus to sectors with larger capital demands and long-term growth potential.

Wilmar, on the other hand, gains an opportunity to reshape AWL and expand its presence in South Asia. The company is now better positioned to introduce innovation and respond to market needs faster.