AWL Agri Business , formerly known as Adani Wilmar Limited, has undergone a significant change in its ownership structure. Lence Pte. Ltd., a wholly owned subsidiary of Wilmar International Limited, has acquired a substantial stake in the company, resulting in Lence gaining sole control of AWL AgriBusiness.

Key Transaction Details

Implications of the Deal

Change in Control

Following this transaction, Lence has acquired sole control of AWL AgriBusiness.

Termination of Existing Agreements

As part of this deal, the parties involved have executed a termination agreement to end existing shareholders' agreements. This includes:

• The shareholders' agreement dated April 12, 1999
• Subsequent amendments and agreements up to July 30, 2021

Impact on Management

The execution of the termination agreement and the share sale have led to Lence acquiring sole control of the company, which may affect the management structure.

Corporate Disclosures

AWL AgriBusiness has made the necessary disclosures to the stock exchanges as per Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This transaction represents a significant change in the ownership and control structure of AWL AgriBusiness. The impact of this change in control on the company's future strategies and operations remains to be seen.

AWL Agri Business Limited (formerly Adani Wilmar Limited) has announced the complete utilization of its Initial Public Offering (IPO) proceeds, as reported in its quarterly monitoring agency report for the period ending September 30, 2025. The company had raised Rs. 36,000 million through its IPO and has successfully deployed the funds across various strategic initiatives.

Breakdown of Fund Utilization

According to the monitoring report issued by HDFC Bank Limited, the designated monitoring agency, AWL Agri Business has allocated the IPO proceeds as follows:

Timeline Extensions and Adjustments

The company had initially planned to utilize Rs. 4,500.00 million for strategic acquisitions by fiscal 2024. However, as of December 30, 2023, only Rs. 1,478.28 million had been spent on this objective. In response, the Board of Directors approved an extension for deploying the remaining Rs. 3,021.72 million by the end of fiscal year 2025.

Additionally, the Board of Directors, through a circular resolution dated March 29, 2025, approved an extension for deploying any unutilized amounts earmarked for Strategic Acquisition, Capital Expenditure, and General Corporate Purposes until September 30, 2025.

Transparency and Compliance

AWL Agri Business has demonstrated its commitment to transparency by providing detailed breakdowns of fund utilization and obtaining necessary approvals for timeline extensions. The company has complied with regulatory requirements, including those set by the Securities and Exchange Board of India (SEBI) for listing obligations and disclosure requirements.

Management Changes

In related news, AWL Agri Business has updated its list of Key Managerial Personnel (KMP) authorized to determine the materiality of events or information for disclosure to stock exchanges. The updated list includes:

1. Mr. Angshu Mallick - Executive Deputy Chairman
2. Mr. Shrikant Kanhere - Managing Director and Chief Executive Officer (CEO)
3. Mr. Pankaj Goyal - Interim Chief Financial Officer (CFO)
4. Mr. Darshil Lakhia - Company Secretary

These appointments reflect the company's ongoing efforts to maintain strong corporate governance and ensure efficient management of its operations.

The full utilization of IPO proceeds marks a significant milestone for AWL Agri Business, demonstrating the company's ability to execute its strategic plans and allocate capital effectively across various growth initiatives and financial obligations.