Adani Enterprises Limited ('AEL'), Adani Commodities LLP ('ACL', a wholly-owned subsidiary of AEL) and Lence Pte. Ltd. (“Lence”, a wholly-owned subsidiary of Wilmar International Limited ('Wilmar') have entered into an agreement ('Agreement') on 30 December 2024 pursuant to which Lence will acquire all the paid-up equity shares of Adani Wilmar Ltd (“Adani Wilmar”) held by ACL as at the date of exercise of the call option or put option, as the case may be, in respect of a maximum of 31.06 per cent of the existing paid up equity share capital of AWL.
In addition, it has been agreed between the parties that AEL will divest 13 per cent shares in Adani Wilmar to achieve compliance with minimum public shareholding requirements.
Gautam Adani |
It may be noted that with completion of these two legs, AEL would completely exit its ~ 44 per cent holding in Adani Wilmar. Adani Wilmar had market capitalization of INR 42,785 crores (USD 5.0 billion) as on Friday, 27th December 2024.
In consideration of the above, AEL’s board of directors has adopted a resolution noting the resignation of ACL’s nominee directors from the board of Adani Wilmar. The parties have agreed to take further steps for change of name of ‘Adani Wilmar Ltd’.
