Adani Enterprises on Thursday announced that it has formally executed the sale of up to 20 per cent stake in AWL Agri Business Limited to Wilmar International, Singapore, at price of Rs 275 per share.
AWL Agri Busienss Limited was formerly known as Adani Wilmar Ltd.
With this, Wilmar International becomes the majority shareholder, raising its stake to approximately 64 per cent in the fast-moving consumer goods (FMCG) major.
The stake sale will result in a cash realisation of Rs 10,874 crore for ACL, a wholly owned subsidiary of Adani Enterprises Ltd (AEL).
This will be in addition to the Rs 4,855 crore raised by ACL through a 13.5 per cent Offer for Sale (OFS) in January 2025.
In total, the Adani Group will realize Rs 15,729 crore from its complete divestment in AWL.
Adani Enterprises shares were trading at Rs 2639.30 apiece on the BSE, up 1.24 per cent as of 2.54 PM on Thursday
The company said in an exchange filing, “The number of Sale Shares that shall be purchased by Lence shall be determined by Lence in its absolute discretion which shall not exceed 20 per cent but shall not be less than 11 per cent of the issued and paid-up equity share capital of AWL”.
