Adani Exits FMCG Sector with Major Stake Sale

MUMBAI: In a significant move, Adani Enterprises has announced the divestment of its remaining 30.4% stake in AWL Agri Business to Wilmar International and institutional investors, fetching an estimated Rs 11,080 crore. This marks the conglomerate's complete exit from one of its earliest ventures, established at the dawn of the new millennium.

Strategic Shift Towards Core Infrastructure

Earlier this year, Adani signaled its withdrawal from non-core operations by divesting a 14% stake in AWL Agri Business for Rs 4,856 crore. The group has been streamlining its portfolio, exiting ventures like Adani Capital, Adani Housing, and the Myanmar port project, to focus on areas with higher growth potential.

Wilmar Increases Stake in AWL Agri Business

Wilmar International is set to acquire a 20% stake from Adani Enterprises for Rs 7,148 crore, boosting its ownership to approximately 64%. Concurrently, institutional investors will purchase the remaining 10.42% stake for around Rs 3,934 crore, with shares priced at Rs 275 each.

Market Response and Future Plans

AWL shares witnessed an 8% intraday surge to Rs 284 on the BSE, closing at Rs 278. Adani Enterprises plans to reinvest the proceeds from this divestment into airports, green hydrogen, roads, and copper operations, areas it deems pivotal for future growth.