Adani Group exits AWL with sale of remaining 7% stake in block deal

Adani Group has sold its remaining 7 per cent stake in Adani Wilmar Ltd in a block deal that attracted strong institutional demand.

Domestic mutual fund houses, including Vanguard, Charles Schwab, ICICI Prudential MF, SBI Mutual Fund, Tata MF, Quant MF, and Bandhan MF, bought the stake, according to people familiar with the transaction.

Several international investors from Singapore, the UAE, and other Asian markets also bought into the clean-out block.

Market sources add that Wilmar's long-term institutional partners such as GIC are expected to increase their exposure to AWL as the promoter structure stabilises.

Earlier this week, the Adani Group had sold 13 per cent stake in AWL to bring its exposure down to 7 per cent.