Business tycoon Adani divests from FMCG joint venture with Wilmar for a staggering 10,874 crore INR.
In a significant move, the Adani Group has fully exited its fast-moving consumer goods (FMCG) joint venture with Wilmar International, known as AWL Agri Business, in a deal valued at ₹10,874 crore (about $1.3 billion). The decision marks the Adani Group’s strategic pivot towards its core operations in infrastructure and energy sectors.
The sale, which began earlier this year with a prior stake sale, has seen the Adani Group sell its remaining 20% stake in AWL to Wilmar’s unit Lence Pte. Ltd. for ₹7,150 crore, and the rest of its shares to pre-identified investors. This move is expected to significantly turbocharge investments in the Adani Group’s main infrastructure platforms, including energy & utilities, transport & logistics, and other adjacent industries.
AWL Agri Business, which began in 1999, has been a long-running joint venture in India. The company, under the leadership of MD & CEO Angshu Mallick, has seen significant growth over the years. In the financial year 2025, AWL Agri closed with a consolidated revenue of Rs 63,672 crore. The group's foods business crossed Rs 6,000 crore in FY25, contributing 10% to its total revenue.
Despite the sale, AWL Agri’s management remains intact. Mallick has announced plans to expand the company’s presence in southern and central India via acquisitions of food companies in condiments and kitchen essentials. The company also plans capital expenditure of over Rs 1,000 crore in FY26 to expand capacity in oleochemicals, foods, and edible oils.
The sale of the Adani Group’s stake in AWL Agri Business will provide the group with a significant cash inflow, which it plans to use to fund aggressive expansion in its infrastructure and energy businesses. However, it comes amid ongoing legal challenges faced by founder Gautam Adani in the U.S., which could impact investor sentiment in the short term.
In a separate development, Zoho has launched an enterprise large language model named Zia. This launch is not directly related to the Adani Group’s decision to exit AWL Agri Business.
[1] Mint, 2022, "Adani Enterprises to sell 20% stake in AWL Agri Business to Wilmar for Rs 7,150 crore", [link] [2] Business Standard, 2022, "Adani Group exits FMCG business with $1.3 billion deal", [link] [3] Economic Times, 2022, "Adani Group exits FMCG business, sells remaining stake in AWL Agri to Wilmar for Rs 10,874 crore", [link]
- The Adani Group's decision to sell its remaining stake in AWL Agri Business for ₹7,150 crore will provide a significant cash inflow, which they plan to use for aggressive expansion in their infrastructure and energy businesses.
- In the recent sale, the Adani Group, known for its core operations in infrastructure and energy sectors, exited its long-running fast-moving consumer goods (FMCG) joint venture with Wilmar International, AWL Agri Business, for approximately $1.3 billion.
- The sale of its stake in AWL Agri Business will not only fund the group's business expansion but also turbocharge investments in their key infrastructure platforms, such as energy & utilities, transport & logistics, and other adjacent industries.
- In the financial year 2025, AWL Agri closed with a consolidated revenue of Rs 63,672 crore, with the group's foods business crossing Rs 6,000 crore, contributing 10% to its total revenue. Despite the sale, AWL Agri’s management remains intact, with plans to expand the company’s presence in southern and central India via acquisitions of food companies in condiments and kitchen essentials.
