Wilmar International is to acquire a chunk of the shares held in India venture Adani Wilmar from its partner Adani Enterprises, which is leaving the alliance.
Singapore-based agri-food group Wilmar International is to pay around Rs126.91bn ($1.48bn) for just over 31% of Adani Wilmar.
Adani Enterprises will also divest its remaining 13% of Adani Wilmar to comply with minimum public shareholding requirements.
The Adani Wilmar venture will become a subsidiary of Wilmar, which said it “will explore opportunities to bring in strategic investors”.
Established in 1999, the Adani Wilmar partnership is headquartered in Ahmedabad, India.
The JV, which markets brands including Fortune and Kohinoor, operates 24 factories in 15 cities.
Adani Wilmar “holds a dominant position” in the Indian FMCG market, offering a range of products, including oil, rice and flour, Wilmar said.
The company added the JV is “well-positioned to capture a substantial” share of India’s rural market.
As of 27 December 2024, Adani Wilmar had a market capitalisation of Rs427.85bn.
In the second quarter of the financial year 2024-25, Adani Wilmar reported its “highest-ever” half-year operating EBITDA of Rs12.32bn and PAT of Rs6.24bn.
The company recorded revenue of Rs144.6bn in Q2 2025, reflecting an 18% year-on-year (YoY) growth, with a 12% year-on-year volume increase.
During the three months under review, the edible oils and food & FMCG segments achieved double-digit revenue growth of 21% and 34%, respectively.
Adani Enterprises plans to use the proceeds from the sale to “turbocharge its investments in core infrastructure platforms”, including energy, utility, transport, and logistics.
