Adani Group Divests Stake in AWL Agri Business to Focus on Infrastructure

In a significant move, the Adani Group has completed its exit from AWL Agri Business by selling its remaining 10.42% stake for Rs 3,732 crore through open market transactions, according to data from BSE. This sale marks the culmination of Adani's transition away from the FMCG sector, focusing instead on its core infrastructure vertical.

Adani Commodities LLP, a subsidiary of Adani Enterprises, facilitated the transaction by offloading over 13.5 crore equity shares in a series of 11 tranches. Dubai-based Shajaeatan Investment FZCO was among the key purchasers, acquiring an 8.52% stake for Rs 3,049.99 crore.

The sale prompted a slight decline in AWL Agri Business shares, which closed at Rs 274.60 on the BSE. Despite the dip, the shares saw interest from major global investors, including Quant Mutual Fund, Franklin Templeton, and Vanguard. This strategic exit from AWL is part of Adani Group's broader restructuring strategy, enhancing its focus on infrastructure projects while divesting from non-core FMCG operations.

(With inputs from agencies.)