Adani steps out of FMCG to double down on its core infrastructure bet
CHENNAI: Adani Group has completed its exit from Adani Wilmar Ltd, drawing a clear line under its long-running joint venture in the packaged foods and edible oils business and signalling a sharper strategic shift toward its core infrastructure operations. The group sold its remaining stake to Singapore-based Wilmar International and a set of institutional investors, wrapping up a divestment process that has been unfolding over recent months. With this, Wilmar becomes the dominant shareholder in the company, taking its holding to nearly two-thirds while Adani relinquishes all board representation.
The ports-to-power conglomerate had earlier this week sold 13 percent out of its remaining 20 percent stake, and the final tranche saw Adani Commodities LLP offload the last 7 percent at around Rs 275 per share, completing a full exit that has brought in a cumulative Rs 15,707 crore for the group. A larger block was simultaneously picked up by Wilmar through its subsidiary, giving the Singapore agribusiness major effective control of the company. The departure of the Adani nominees from the board formalises the transfer of stewardship for the edible oil and staples business to Wilmar.
For the Adani Group, this divestment is presented as part of a deliberate strategy to tighten its focus on infrastructure-led sectors—energy, logistics, transport and green technologies—where it is committing heavy capital and expects stronger long-term returns. The exit frees up financial resources that can be redeployed into its large capex pipeline, while also trimming exposure to a sector that sits outside its redefined priority areas.
For Wilmar, taking charge of the business opens the door to a more streamlined operating structure and greater autonomy in expanding its footprint in the Indian consumer staples market. Analysts believe Wilmar may move faster on product expansion, supply chain integration and margin improvements now that it has majority control. The challenge, however, will be navigating volatile commodity cycles, especially in edible oils where global price swings directly influence profitability.
For Adani Wilmar itself, the ownership shift marks the start of a new phase. The company now pivots from a joint venture model to a structure driven predominantly by Wilmar’s strategic and operational playbook. Much will depend on how effectively it balances raw material risk, maintains pricing power in a competitive food market and sustains its brand position in key categories.
Overall, Adani’s complete exit from Adani Wilmar underscores a sharper capital allocation discipline across the conglomerate. It also reinforces Wilmar’s ambition to strengthen its foothold in India’s fast-moving staples and edible oils market. The transition sets the stage for a potentially more focused expansion under Wilmar, even as Adani intensifies its bet on infrastructure-led growth.