Adani Exits AWL Agri Business, Offloads 10.42% Stake For Rs 3,732 Crore
 03_06_24.jpg?downsize=1010:568 "Adani Exits AWL Agri Business, Offloads 10.42% Stake For Rs 3,732 Crore")
Adani Group has exited AWL Agri Business, earlier known as Adani Wilmar, by offloading the 10.42% remaining stake it held in the company through open market transactions, according to the block deal data available on the BSE on Friday.
The ports-to-power conglomerate sold the stake for Rs 3,732 crore, thereby marking its exit from the joint venture with Wilmar International.
The stake was sold by Adani Commodities LLP, a subsidiary of Adani Enterprises, as it offloaded a total of 13,54,82,400 equity shares in 11 tranches on Friday, amounting to a 10.42% stake in AWL Agri Business.
The transaction was executed at an average price of Rs 275.5 per share.
Dubai-based Shajaeatan Investment FZCO purchased a little over 11.07 crore equity shares or 8.52% in AWL Agri Business for Rs 3,049.99 crore.
Quant Mutual Fund (MF), IDFC MF, Bandhan MF, Jupiter Fund Management, Morgan Stanley Asia Singapore, US-based Susquehanna International Group, Franklin Templeton, Vanguard, and Singapore-based Duro Capital were among the buyers of AWL Agri Business shares on the BSE.
Shares of AWL Agri Business slipped 1.31% to close at Rs 274.6 apiece on the BSE.
On Thursday, billionaire Gautam Adani-promoted Adani Group said it has sold a 20% stake in AWL Agri Business to Wilmar International Singapore for Rs 7,150 crore, as part of its decision to exit the FMCG business and focus on the infrastructure vertical.
In January, ACL had already sold a 13.51% stake in AWL through the offer for sale route, generating Rs 4,855 crore.
AWL Agri Business sells edible oil and other food products under Fortune brand.
In December last year, Adani Group had announced divestment of its entire 44 per cent stake in AWL to sharpen its focus on core infrastructure businesses.
During the 2024-25 fiscal, AWL Agri Business Ltd had posted a net profit of Rs 1,225.81 crore on a total income of Rs 63,910.28 crore.
With PTI inputs
Disclaimer: NDTV Profit is a subsidiary of AMG Media Networks Limited, an Adani Group Company.
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