November 21, 2025 : Shares of AWL Agri Business Ltd (formerly Adani Wilmar) slumped on November 21, 2025, after a large block deal resulted in the sale of approximately 6.6% of the company’s equity, valuing the transaction at around ₹2,300–2,400 crore, according to multiple industry sources.
What’s Behind the Sale
The seller in this transaction was Adani Commodities LLP, a subsidiary of Adani Enterprises, which has been steadily divesting its stake in AWL Agri. This move comes as part of Adani Group’s broader strategy to exit the FMCG business and refocus on its infrastructure vertical.
In an earlier transaction this year, Adani sold a 13% stake in AWL Agri to Lence, a subsidiary of Wilmar International, for ₹4,646 crore. The recent block deal appears to be the final tranche of this exit, as confirmed by reports that the group has completed its divestment.
Market Reaction
Following the block deal, AWL Agri’s shares dropped by around 2.5% in intraday trading, falling to approximately ₹269.75 per share.The steep stake sale added pressure on the stock, reflecting investor concern over Adani’s exit and possible dilution or change in promoter control.
Who’s Buying?
The block deal reportedly saw strong participation from institutional investors. According to reports, major mutual funds such as Vanguard, Charles Schwab, ICICI Prudential MF, SBI MF, Tata MF, Quant MF, and Bandhan MF were among the buyers.
This influx of institutional interest helped absorb the large chunk of shares being offloaded, suggesting confidence in AWL Agri’s long-term business potential despite the change in shareholding.
Strategic Implications
- Adani’s Exit Completed: The block deal marks a significant milestone in Adani’s exit plan. As reported earlier, the group is fully exiting its AWL Agri business.
- Wilmar Takes Charge: Wilmar International, through its unit Lence, is consolidating its position. Earlier deals have increased its stake to a controlling level.
- Change in Promoter Profile: With Adani out, AWL Agri’s promoter base becomes more multinational, reflecting a shift in control and possibly in strategic direction. Analysts suggest this could bring stability and a more global outlook.
Business Fundamentals Still Intact
AWL Agri is a major player in India’s edible oil and staples business, known widely for its “Fortune” brand. Despite the share-sale turbulence, the company’s core business remains strong, backed by a deep domestic distribution network and Wilmar’s global sourcing capabilities.
What Investors Should Watch
- Whether AWL Agri’s share price stabilizes or rebounds after the volatility.
- How new and existing institutional investors behave in upcoming quarters.
- Any change in business strategy or capital allocation under Wilmar’s majority ownership.
- Financial results in coming quarters, especially around profitability, given this large promoter change.
Summary
AWL Agri shares fell after a 6.6% stake, valued at ₹2,300–2,400 crore, was sold by Adani in a block deal. The transaction marks another step in Adani’s exit from the business.