Adani Enterprises Ltd (AEL), the flagship company of the conglomerate promoted by Gautam Adani and family, will net ₹10,874 crore by selling the remaining 30.42 per cent stake in Fortune edible oil maker AWL Agri Business Ltd, allowing the group to reduce its leverage.

The stake sale in AWL, formerly Adani Wilmar Ltd, will take place in multiple transactions, resulting in the complete exit of the Adani Group from the consumer-facing B2B business and pivot towards the core sector portfolio spanning power, port and logistics, transmission, among others.

According to the latest agreement executed between AEL’s subsidiary Adani Commodities Ltd and Lence Pte Ltd, a wholly owned subsidiary of Wilmar International Limited, Adani will sell anywhere between 11-20 per cent to Wilmar at ₹275 per share.

If Lence does not buy more than 11 per cent, the minimum it has agreed to acquire, the Wilmar subsidiary will find investors to pick up the rest (up to 20 per cent).

Separately, the residual 10.42 per cent stake of AWL currently held by ACL will be sold to a set of pre-identified investors, before the consummation of the above transactions, Adani and AWL informed bourses on Thursday.

In addition to the latest round of stake sales, Adani had sold 13.51 per cent of AWL in January for ₹4,855 crore. Put together, the exit from Adani Wilmar will fetch Adani Enterprise Ltd ₹15,729 crore. Adani Enterprise is the main holding company of the group and incubator of many new businesses.

The January transaction had allowed the Fortune oil maker to bring down the promoters’ holding below 75 per cent, a key threshold to maintain public float, according to the existing regulations by Sebi.

At present, Lence Pte holds a 43.94 per cent stake in AWL, which has also diversified in packaged, ready-to-cook food such as rice and pulses.

Depending upon the latest round of purchase, the Wilmar subsidiary will hold a minimum of 54.94 per cent stake in AWL, which reported a turnover of ₹61,676 crore and a profit after tax of ₹1,215 crore in FY25.

The AWL stock responded positively towards the transactions, going up 6 per cent to close at ₹278.25 apiece, higher than the price at which Lence had agreed to buy from Adani. In January, Adani had sold shares at ₹276.25 apiece to meet the minimum public holding norms.

Upon consummation of the transaction, Adani and Wilmar have agreed to terminate the shareholders’ agreement dated April 12, 1999 and subsequent modifications to it.