Wilmar Tightens Grip on AWL with ₹7,150 Cr Stake Buy, Adani Group Exits FMCG

Wilmar International is making a strategic move to deepen its footprint in India’s agribusiness sector. Here's the key breakdown:

Deal Overview

• Acquirer: Wilmar International, via its subsidiary Lence Pte Ltd
• Target: AWL Agri Business Ltd (formerly Adani Wilmar Ltd)
• Stake: Up to 20% (minimum 11%) of paid-up equity
• Valuation: ₹7,150 crore at ₹275 per share

Ownership Shift

• Wilmar currently holds 43.94% in AWL.
• Post-acquisition, its stake will rise to between 54.94% and 63.94%, making it the majority shareholder.

Adani Group’s Exit Strategy

• Adani Group is exiting the FMCG business to focus on infrastructure.
• Already sold:
• 13.51% stake in Jan 2025 for ₹4,855 crore
• 20% stake in July 2025 to Wilmar
• Plans to divest the remaining 10.42%, completing a full exit

Regulatory Filing

Wilmar has filed with the Competition Commission of India (CCI) under Section 5(a) of the Competition Act, 2002.

The parties assert no competition concerns and no need for market delineation

This move not only consolidates Wilmar’s control over AWL but also signals a broader pivot in India’s agribusiness landscape.

Adani to Completely Exit Adani Wilmar JV, Sells Shares for $2 Bn

Wilmar International has announced that it has entered into an agreement to acquire a significant stake in Adani Wilmar Limited. Specifically, Lence Pte. Ltd., a wholly-owned subsidiary of Wilmar International, will acquire up to 31.06% of the existing paid-up equity share capital of Adani Wilmar.

Additionally, Adani Enterprises Limited (AEL) will divest about 13% of its shares in Adani Wilmar to meet minimum public shareholding requirement.

This move will allow AEL to completely exit its 44% holding in Adani Wilmar, and the proceeds from the sale will be used to boost investments in core infrastructure platforms like energy, utility, transport, and logistics.

The proceeds from the sale of Adani Enterprises' stake in Adani Wilmar, estimated to be over USD 2 billion, will be used to boost investments in core infrastructure areas like energy, utilities, transport, logistics, and other important sectors.

The financials of Adani Wilmar Limited are quite impressive. As of December 27, 2024, the market value of Adani Wilmar was approximately Rs 42,785 crores ($5 billion). In the first half of the fiscal year 2024-25, Adani Wilmar reported an 18% year-on-year revenue growth to ₹14,460 crore and a highest ever half-yearly Profit After Tax (PAT) of ₹624 crore.

However, in FY24, the company's EBITDA was down by 29% due to market factors and challenges in Bangladesh, where it is the largest edible oil company.

Adani Wilmar to Acquire 67% Stake in Omkar Chemicals for ₹56 Crore

Adani Wilmar Ltd, a joint venture between the Adani Group and Singapore's Wilmar Group, is set to acquire a 67% stake in Omkar Chemicals Industries Pvt Ltd. The acquisition is valued at ₹56 crore and is expected to be completed within 3-4 months.

In a regulatory filing on Thursday, Adani Wilmar said it has signed the share subscription and share purchase agreement to take a majority stake of 67 per cent in Omkar Chemicals Industries Pvt Ltd, a speciality chemicals company.

Omkar Chemicals operates a manufacturing plant in Panoli, Gujarat, with an annual capacity of around 20,000 tonnes of surfactants, which are key ingredients in detergents, soaps, and cleaning solutions, and also used in pesticides and herbicides to improve their effectiveness.

This move will enhance Adani Wilmar's presence in the speciality chemicals market, allowing them to better meet customer requirements.

With this acquisition, Adani Wilmar will gain access to Omkar Chemicals' manufacturing plant in Panoli, Gujarat, which produces surfactants. This expands their presence in the speciality chemicals market. With Omkar Chemicals' expertise, Adani Wilmar can diversify its product portfolio beyond edible oils and agri-commodities.

Omkar Speciality Chemicals Ltd is a chemical company based in Mumbai, India. The company is primarily engaged in the production of specialty chemicals and pharma intermediates. The product range of Omkar Speciality Chemicals includes iodine derivatives, methyl iodide, ethyl iodide, chloroiodomethane, and more.

Adani Wilmar, a joint venture between Adani Group and Singapore's Wilmar Group, is one of the largest consumer food FMCG companies in India. The company has a diversified product portfolio offering most of the primary kitchen essentials, including edible oil, wheat flour, rice, pulses, chickpea flour (besan) and sugar. It is also a leading player in oleochemicals.

Adani Wilmar’s Fortune Online Store Successfully Completes 2 Years

• Marking the milestone, Fortune Online store caters to 25+ cities across India,
• Provides one-day delivery and last-mile access of Fortune products

Adani Wilmar Limited, one of India’s largest packaged food FMCG companies, marks the milestone of completing 2 successful years in the D2C space with its e-commerce platform – Fortune Online. The one-of-its-kind pioneering platform has consistently expanded its presence to 25+ cities across India over the past couple of years. With a loyal consumer base, Fortune Online has emerged as one of the fastest growing D2C platforms in India’s FMCG sector.

Talking about this phenomenal feat, Mr. Angshu Mallick, MD & CEO, Adani Wilmar Ltd. said, “We are thrilled to celebrate two years of success with our online store; this is a testament to the loyalty of our customers and hard work and dedication of our team. We aim to drive growth and meet consumer demands by providing last-mile service through our new Fortune Online vertical. The platform has enabled us to not only connect with our patrons but also get real-time feedback on products, enhancing our capability to innovate and disrupt in a strategic manner. Over the years, we have aggressively introduced newer product categories and diversified our product portfolio to increase our market share.”

He further added, “Fortune Online has been conducting extensive on-ground activation programmes across key markets. Our app-exclusive Bharti Mela in Gujarat that capitalized on the traditional spirit and consumer demand was among the most successful engagement programmes. We believe the combination of products under the brand Kohinoor and brand Fortune, will enable us to register strong demand momentum going forward. In a bid to offer a customised shopping experience, we aim to enhance our offering by targeting and catering to niche consumer segments.”

Launched in 2021, Fortune Online started as a Chatbot to cater to the high demand for essential goods during the peak COVID period. With changing times, Fortune Online has undergone a transformative journey, scaling from Chatbot into an e-commerce platform.

After a successful pilot in Ahmedabad, Fortune Online expanded to more than 25+ cities across India, including a mix of metro cities as well as Tier-2 and Tier-3 markets. Driving a value-led proposition, the platform offers products directly from the company at the best rates to end consumers. Furthermore, the digital customer outreach strategy has enabled the brand to help us churn crores of impressions across Instagram, Facebook, and YouTube.

With its product portfolio expanding constantly, Adani Wilmar aims to enter every kitchen and connect with households across the country. The platform offers an array of kitchen essentials like wheat flour, edible oils, suji, rawa and maida as well as Ready-To-Eat products like poha and khichdi. Customers can avail of benefits such as one-day delivery of products under Adani Wilmar’s brands such as Fortune and Kohinoor. 

About Adani Wilmar Limited

Adani Wilmar Limited (AWL) is one of the largest food FMCG companies in India offering most of the primary kitchen essentials for Indian consumers, including edible oil, wheat flour, rice, pulses and sugar. The company’s products are offered under a diverse range of brands across a broad price spectrum catering to different customer groups.

Its flagship brand ‘Fortune’ is one of the largest selling edible oil and food brands in India. It has a wide array of packaged foods including packaged wheat flour, rice, pulses, besan, sugar, soya chunks and cereals-based products such as ready-to-cook khichdi. It also offers a diverse range of industry essentials, including oleochemicals, castor oil and its derivatives and de-oiled cakes and HPC category under brand Alife which includes Soap, Hand wash and Hand Sanitisers.