AWL Agri Business Limited, formerly known as Adani Wilmar Limited, has applied to the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) for the reclassification of numerous Adani group entities. This application, submitted on 27 November 2025, seeks to change the status of these entities from the promoter and promoter group category to the public category.

Entities Involved

The reclassification request encompasses a wide range of Adani group companies, including:

• Adani Enterprises Limited
• Adani Commodities LLP
• Various subsidiaries across different sectors

These entities span multiple industries, including aerospace, agriculture, airports, cement, mining, and aviation fuel services.

Regulatory Framework

The application for reclassification has been made under Regulation 31A of the Securities and Exchange Board of India (SEBI) Listing Regulations. This regulation provides the framework for the reclassification of promoter/promoter group entities to public shareholders.

Previous Developments

This move follows earlier actions by the Adani Group, including:

• The complete divestment of its stake in AWL Agri Business
• The sale of 90,977,502 equity shares (7.00% of total equity) by Adani Commodities LLP through a bulk deal on the stock exchange

Implications

If approved, the reclassification could have several implications:

1. Ownership Structure: It represents a significant shift in the company's ownership structure.
2. Market Perception: The move may impact how the market views AWL Agri Business, potentially affecting investor sentiment and stock performance.
3. Regulatory Compliance: The reclassification aligns with regulatory requirements, as the Adani Group entities no longer exercise control over the company's affairs, hold special rights, have board representation, or act as key managerial personnel.

Next Steps

The reclassification request will be placed before AWL Agri Business's board of directors for consideration. The outcome of this application will be closely watched by investors and market analysts, as it may influence the company's future governance structure and market positioning.

AWL Agri Business , a leading FMCG company in India, witnessed substantial trading activity on the National Stock Exchange (NSE) with a significant block trade worth Rs. 440.56 crores. The transaction involved approximately 16,093,673 shares and was executed at Rs. 273.75 per share.

Block Trade Details

This significant trading volume suggests considerable interest from institutional or bulk investors in AWL Agri Business's stock.

Recent Corporate Action

According to the latest LODR (Listing Obligations and Disclosure Requirements) data:

• Adani Commodities LLP, a promoter of AWL Agri Business, sold 168,958,219 equity shares representing 13% of the company's issued and paid-up equity share capital.
• The sale was made to Lence Pte Ltd, a wholly-owned subsidiary of Wilmar International Limited, through an off-market transaction.
• Post-transaction, Adani Commodities LLP's shareholding in AWL Agri Business reduced from 20.00% to 7.00% of the total share capital.

Market Implications

The occurrence of this large block trade, coupled with the recent off-market transaction by a promoter entity, may signal evolving dynamics in AWL Agri Business's ownership structure and investor interest. Market participants will likely monitor these developments closely for potential impacts on the company's stock performance and future strategic directions.

Investors and analysts may want to keep an eye on any subsequent disclosures or announcements from AWL Agri Business that could provide more context to these significant market movements.