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.
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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.
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