Mumbai, Nov 21 (UNI) The Adani Group has sold its remaining seven per cent stake in AWL Agri Business Ltd (formerly called Adani Wilmar Ltd) in a block deal and exited its FMCG business completely, market sources stated here on Friday.
The seven per cent stake has been purchased by domestic mutual fund houses, including Vanguard, Charles Schwab, ICICI Prudential MF, SBI Mutual Fund, Tata MF, Quant MF and Bandhan MF, sources said. Several other international investors from Singapore, the UAE, and other Asian markets also bought parts of the seven per cent stake, sources said.
Earlier during the week, the Adani Group, which held a 20 per cent stake in AWL Agri Business, sold its 13% stake to an arm of Wilmar International Ltd by an off-market transaction worth Rs 4,646 crore.
The stake sale to Wilmar International was followed by the latest sale of its balance 7% stake in AWL Agri and the move is part of the Adani Group’s strategy to exit the FMCG business and pivot focus back to its core infrastructure business.
AWL Agri Business Ltd (formerly Adani Wilmar Ltd) has completed a major shareholder reshaping after Adani Enterprises fully exited its 44 per cent stake, including the final 7 per cent clean-out block placed on November 20 at Rs 275 per share.
With the full exit from the FMCG business now completed, Singapore-based Wilmar International becomes the sole promoter of AWL Agri Business Ltd with an estimated 57 per cent holding, giving AWL a clear multinational ownership profile.
AWL, which markets the “Fortune” brand, also operates an integrated food staples business across wheat flour, rice, pulses and ready-to-cook products in India. The business will now be controlled by the Singapore-based Wilmar International.
