Wilmar International announced on Nov, 11 2025 that its wholly owned subsidiary, Lence Pte. Ltd., has exercised its right to buy 168,958,219 shares of AWL Agri Business Limited from Adani Commodities LLP at INR 275 apiece, representing an additional 13% stake in the India-listed company.

The transaction is valued at about 46.5 billion Indian rupees, or roughly 0.72 billion Singapore dollars.

On completion, expected within Nov 2025, Lence’s interest in AWL will rise to 56.94% from 43.94%, while Adani Commodities’ holding will fall correspondingly.

Wilmar said the purchase will be financed through internal funds and bank borrowings. It expects to book a gain on deemed disposal of approximately 1.58 billion Singapore dollars and record a net asset increase of about 1.74 billion Singapore dollars. The Wilmar Group will also recognise negative net tangible assets attributable to AWL of around 0.57 billion Singapore dollars.

The company noted that none of its directors or controlling shareholders has an interest in the deal.