Adani Group Exits Adani Wilmar JV; Wilmar to Take Full Control

In a significant corporate development, Adani Enterprises Ltd (AEL) has announced its complete exit from the Adani Wilmar joint venture, with Wilmar International acquiring AEL's entire 31% stake in the company. This strategic move marks the end of AEL’s association with India's leading Food FMCG platform, Adani Wilmar Ltd, a joint venture between Adani and Wilmar since its inception.

The exit involves two key transactions. First, Wilmar’s subsidiary Lence Pte Ltd will acquire 31.06% equity shares held by Adani Commodities LLP (ACL), a subsidiary of AEL, as part of a call or put option agreement. Second, AEL will divest an additional ~13% of shares to meet minimum public shareholding norms, as mandated by regulations. Upon completion of these transactions, AEL’s total divestment of ~44% stake will conclude its role in the JV.

With this exit, Adani's nominee directors will step down from the board of Adani Wilmar, and the parties have agreed to initiate steps to rename Adani Wilmar Ltd. The proceeds from this divestment will be directed toward expanding AEL's core infrastructure platforms, including energy & utility, transport & logistics, and other growth-focused sectors in India’s primary industries.

As of December 27, 2024, Adani Wilmar Ltd boasted a market capitalization of ₹42,785 crore ($5 billion). The company has grown into India’s largest Food FMCG player, with an extensive distribution network reaching over 30,600 rural towns and full urban market coverage. Additionally, Adani Wilmar exports to more than 30 countries globally, leveraging its massive scale of operations.

AEL’s exit signifies its strategic realignment, prioritizing its role as India’s largest listed incubator for platforms that align with India’s growth story. The funds raised will be instrumental in turbocharging investments in sectors critical to the nation's infrastructure development.

This transaction, subject to regulatory approvals, underscores the collaborative success of Adani and Wilmar, who have together built a trusted brand synonymous with quality food products.