Adani Enterprises Limited, the flagship company of Adani Group, has decided to exit Adani Wilmar Limited. There has been speculation for a long time that Adani Group is planning to sell its stake in Adani Wilmar. Now this news has been confirmed.
Stake in Adani Wilmar
- Total stake: Adani Enterprises’ total stake in Adani Wilmar is 44%.
- Selling Process:
- The sale will be completed in two phases.
- Phase 1: Selling stake to Lence Pte Ltd, a wholly owned subsidiary of Wilmar International.
- Second phase: Partial sale under public shareholding rules.
Deal Details
Adani Enterprises informed the exchange that the deal was signed on December 30, 2024.
- In the first stage:
- Adani Commodity LLP (ACL), a subsidiary of Adani Enterprises, will sell its 31.06% stake to Lence Pte Ltd.
- This sale will be done through call and put option mechanism.
- In the second phase:
- The sale of the remaining 13% stake will be in keeping with the public shareholding rules.
Adani Wilmar shares performance
- Monday’s share price:
- The share price closed at ₹329.50 on BSE.
- Performance of last two years:
- The company’s shares have fallen by 46%.
- Adani Enterprises Shares:
- Closed at ₹2593.45 with a rise of 7% on Monday.
impact of change
- Resignation of directors:
- After completion of the sale, the nominee directors of Adani Commodity LLP will have to resign from the board of Adani Wilmar.
- New name of the company:
- The name of the company may be changed to AWL Agri Business Limited or Fortune Agri Business Limited.
- The new name will require the approval of the ministry.
