Adani Enterprises (AEL), Adani Commodities LLP (ACL, a wholly-owned subsidiary of AEL) and Lence Pte (Lence, a wholly owned subsidiary of Wilmar International (Wilmar)) have entered into an agreement on December 30, 2024, wherein Lence will acquire all the paid-up equity shares of Adani Wilmar (AWL) held by ACL as at the date of exercise of the call option or put option, as the case maybe, in respect of a maximum of 31.06% of the existing paid up equity share capital of AWL.
In addition, AEL will divest around 13% shares in Adani Wilmar to achieve compliance with minimum public shareholding requirements. With completion of these two legs, AEL would completely exit its around 44% holding in Adani Wilmar. As on December 27, 2024, Adani Wilmar had market capitalization of Rs 42,785 crore ($5.0 billion).
In consideration of the above, AEL’s board of directors has adopted a resolution noting the resignation of ACL’s nominee directors from the board of Adani Wilmar. The parties have agreed to take further steps for change of name of ‘Adani Wilmar’.
AEL will use the proceeds from the sale to turbocharge its investments in the core infrastructure platforms in energy & utility, transport & logistics and other adjacencies in primary industry. AEL will continue to invest in infrastructure sectors which will further strengthen AEL’s position as India’s largest listed incubator of platforms playing the key macro themes underpinning India’s growth story.
AEL and Wilmar are the founder shareholders of Adani Wilmar and have jointly built the largest Food FMCG player in India which has won the trust of millions of Indian families. Adani Wilmar is well positioned to benefit from the huge scale of operations, a strong distribution network and retail reach across the length and breadth of India. Adani Wilmar has 100% urban coverage and presence in over 30,600 rural towns in India and exports to over 30 countries globally. The transaction is subject to customary condition precedents including receipt of applicable regulatory approvals.
Adani Enterprises is the flagship company of Adani Group, one of India’s largest business organisations.
| Company Name | CMP |
|---|---|
| Redington | 218.50 |
| Adani Enterprises | 2129.55 |
| Amrapali Industries | 17.34 |
| Rashi Peripheral | 425.55 |
| PDS | 289.25 |
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