Adani Enterprises Exits AWL Agri Business With ₹37.33 Billion Block Deal

Adani Enterprises Ltd. has fully exited AWL Agri Business Ltd. (formerly Adani Wilmar Ltd.) by offloading its remaining 10.4% stake via block deals on the BSE. On Friday, its subsidiary Adani Commodities LLP sold 135.48 million shares at ₹275.50 apiece, totalling ₹37.33 billion, exchange data showed.

A day earlier, Adani Commodities had sold a 20% stake to joint venture partner Wilmar International at ₹275 per share. Before these two deals, Adani Commodities held 30.4% in AWL Agri Business.

Following the stake sale, AWL Agri Business will no longer be classified as an associate of Adani Enterprises.

Back in December, Adani Commodities and Wilmar’s arm Lence Pte. Ltd. had entered into a put-call agreement, allowing either party to buy or sell AWL shares at a cap of ₹305 each. In January, the Adani group had sold 13.5% stake at ₹276.51 per share for ₹48.55 billion, primarily to meet the 25% minimum public shareholding rule.