AWL Agri Business

Adani Wilmar Ltd. was incorporated in 1999 as an equal joint venture between Adani Enterprises and Singapore-based Wilmar International.{{Cite web |title=Fortune oil maker Adani Wilmar to open its ₹3,600 crore IPO on January 27 |url=https://www.businessinsider.in/business/corporates/news/fortune-oil-maker-adani-wilmar-to-open-its-3600-crore-ipo-on-january-27/articleshow/89033308.cms |access-date=2022-09-18 |website=Business Insider}}{{Cite web |date=2022-05-19 |title=ICICI Securities initiates coverage on Adani Wilmar! Here's all you need to know |url=https://www.businesstoday.in/markets/company-stock/story/icici-securities-initiates-coverage-on-adani-wilmar-heres-all-you-need-to-know-334161-2022-05-19 |access-date=2022-09-18 |website=Business Today |language=en}}

Adani Wilmar's brand, Fortune, is an edible oils and foods brand. Between 2014 and 2017, the company launched other packaged products, such as rice, soya chunks, and flour, under the same brand name.{{Cite web |date=2022-03-23 |title=Adani Wilmar betting big on rice segment; plans to acquire local brand |url=https://www.livemint.com/companies/news/adani-wilmar-betting-big-on-rice-segment-plans-to-acquire-local-brand-processing-units-11648027978914.html |access-date=2022-09-18 |website=mint |language=en}} Between 2019 and 2020, the company entered the personal care market under the brand Alife. During the same period, AWL also ventured into the ready-to-cook (RTC) products market. As of 2021, the company held an 18.3% market share in the branded edible oil market in India.{{Cite web |date=2021-11-22 |title=Adani Wilmar IPO: Decoding the FMCG giant's hidden universe |url=https://www.businesstoday.in/latest/corporate/story/adani-wilmar-ipo-decoding-the-fmcg-giants-hidden-universe-312931-2021-11-22 |access-date=2022-09-18 |website=Business Today |language=en}}{{Cite web |title=Adani Wilmar Ltd |url=https://www.icicidirect.com/mailimages/IDirect_AdaniWilmar_IPOReview.pdf |website=ICICI Direct}} It is India's largest processor of palm oil.{{Cite web |date=2022-05-26 |title=Adani Wilmar is Asia's Best Performing IPO |url=https://www.livemint.com/news/india/adani-wilmar-is-asia-s-best-performing-ipo-11653549922284.html |access-date=2022-09-18 |website=mint |language=en}}{{Cite web |title=Adani Wilmar |url=https://chinadialogue.net/en/company-profile/adani-wilmar/ |access-date=2023-04-23 |website=China Dialogue |language=en}}{{Cite web |date=2022-08-24 |title=Adani Wilmar shares fall over 8% in two sessions, here's why |url=https://www.businesstoday.in/markets/company-stock/story/adani-wilmar-shares-fall-adani-group-mukesh-ambani-reliance-industries-345490-2022-08-24 |access-date=2022-09-18 |website=Business Today |language=en}}

Adani Wilmar opened its three-day initial public offering (IPO) on 27 January 2022, and the issue closed on 31 January 2022. The listing took place on 8 February 2022.

In December 2024, Adani Enterprises announced that it would exit the Adani Wilmar joint venture by selling a 31% stake to Wilmar International and the remaining 13% to public shareholders.{{cite news |title=Adani Enterprises to exit Adani Wilmar JV; to sell 31% stake to Wilmar International - CNBC TV18 |url=https://www.cnbctv18.com/market/adani-enterprises-share-price-to-exit-adani-wilmar-jv-shareholding-stake-sale-proceeds-timeline-method-19531732.htm |access-date=8 January 2025 |work=CNBCTV18 |date=30 December 2024 |language=en}}

In February 2025, Adani Wilmar was renamed as AWL Agri Business Limited following the approval of its shareholders.{{Cite news |date=2025-02-26 |title=Adani Wilmar renamed as AWL Agri Business Limited after shareholders' approval |url=https://economictimes.indiatimes.com/industry/cons-products/fmcg/adani-wilmar-renamed-as-awl-agri-business-limited-after-shareholders-approval/articleshow/118549216.cms?from=mdr |access-date=2025-05-06 |work=The Economic Times |issn=0013-0389}}

In 1993, BEOL (Bangladesh Edible Oil Limited) was established in Dhaka, Bangladesh, as a 100% foreign-owned joint venture between Wilmar International of Singapore and the Adani Group of India.{{Cite web |date=2021-12-02 |title=How Adani Wilmar's little-known deal may propel its international biz in FY22 |url=https://www.businesstoday.in/latest/story/how-adani-wilmars-little-known-deal-may-propel-its-international-biz-in-fy22-314101-2021-12-02 |access-date=2022-09-18 |website=Business Today |language=en}}

In 2005, Adani Wilmar acquired the Mantralayam{{Cite news |last=Sharon |first=Meghdoot |date=2004-05-05 |title=Adani Wilmar has big plans for Mantralayam unit |work=Business Standard India |url=https://www.business-standard.com/article/markets/adani-wilmar-has-big-plans-for-mantralayam-unit-104050501109_1.html |access-date=2022-09-18}} and Haldia plants (refining).{{Cite web |title=Adani Group enters Bengal's ports sector; to modernise Haldia port at Rs 298 crore |url=https://www.timesnownews.com/business-economy/companies/adani-group-enters-bengals-ports-sector-to-modernise-haldia-port-at-rs-298-crore-article-94234619 |access-date=2022-09-18 |website=TimesNow |date=16 September 2022 |language=en}}{{Cite news |last=Reporter |first=B. S. |date=2009-03-28 |title=Adani Wilmar to double Haldia unit capacity |work=Business Standard India |url=https://www.business-standard.com/article/companies/adani-wilmar-to-double-haldia-unit-capacity-109032800048_1.html |access-date=2022-09-18}}{{Cite web |title=Protest hits Adani plant, contract workers gherao officials |url=https://www.telegraphindia.com/west-bengal/protest-hits-adani-plant-contract-workers-gherao-officials/cid/1844594 |access-date=2022-09-18 |website=www.telegraphindia.com}} From 2006 to 2009, AWL acquired multiple crushing and refining units in Bundi, Shujalpur, Nagpur, and Neemuch. It also acquired Rajshri Packagers (refining), Acalmar Oils and Fats, and Satya Sai Agroils (refining).{{Cite web |url=https://www.icicisecurities.com/Upload/ArticleAttachments/Adani%20Wilmar%20Limited_RHP.pdf |title=Adani Wilmar Limited |website=ICICI Securities}} In 2011, the AWL group acquired the Alwar and Mundra castor units (crushing, refining, and industry essentials) and Gokul Refoils & Solvent (edible oil refining company). In 2018, the AWL group acquired a refinery from Louis Dreyfus Commodities, an edible oil refinery from Cargill, and rice plants from Ferozepur Foods. Joint ventures of AWL include KOG-KTV Foods Pvt. Ltd, KTV Health Foods Pvt. Ltd, and Visakha Polyfab Pvt. Ltd.

In 2022, Adani Wilmar acquired the Kohinoor, Trophy Royale, and Charminar rice brands from McCormick & Company.{{Cite web |date=2022-05-03 |title=Adani Wilmar buys several brands, including 'Kohinoor' to strengthen food business |url=https://indianexpress.com/article/business/companies/adani-wilmar-buys-several-brands-including-kohinoor-to-strengthen-food-business-7899597/ |access-date=2022-09-18 |website=The Indian Express |language=en}}

In 2024, Adani Wilmar acquired a 67% stake in the specialty chemicals company Omkar Chemical Industries.{{cite news |title=Adani Wilmar acquires 67% stake in Omkar Chemical Industries for ₹56.25 crore - CNBC TV18 |url=https://www.cnbctv18.com/market/stocks/adani-wilmar-acquires-67-pc-stake-in-omkar-chemical-industries-for-rs-56-25-crore-share-price-19442084.htm |access-date=29 August 2024 |work=CNBCTV18 |date=11 July 2024 |language=en}}

{{Independent sources|section|date=April 2023}}

Adani Wilmar Limited, along with the Adani Foundation, the CSR arm of the Adani Group, runs the Fortune SuPoshan initiative to address malnutrition and anemia in children.{{Cite web |last=Focus |first=ABP Live |title='Made A Name For Myself': SuPoshan Sanginis Drive Women Empowerment Narrative Across Nation |url=https://news.abplive.com/business/i-have-made-a-name-for-myself-suposhan-sanginis-drive-the-women-empowerment-narrative-across-country-1569829 |access-date=2023-04-22 |website=ABP Live |date=15 December 2022 |language=en}}{{Cite news |date=2022-12-24 |title=Extending aidto underfed children |work=The Times of India |url=https://timesofindia.indiatimes.com/city/lucknow/extending-aidto-underfed-children/articleshow/96470360.cms |access-date=2023-04-22 |issn=0971-8257}}

In 2016, the Government of Maharashtra released an official statement indicating that Adani Wilmar had violated regulations set by the Food and Drug Administration (FDA) of Maharashtra while promoting its blended edible vegetable oil, Fortune Vivo. The company had made claims about the oil's medicinal properties, including its ability to regulate diabetes. Madan Yerawar, the Minister of State for FDA, stated that a raid was conducted on Adani Wilmar's storage facility in Panvel after deceptive information was identified on both the product advertisements and packaging.{{Cite news |last=Deshpande |first=Alok |date=2016-12-07 |title=Adani's oil brand misled buyers: State govt. |language=en-IN |work=The Hindu |url=https://www.thehindu.com/news/cities/mumbai/Adani%E2%80%99s-oil-brand-misled-buyers-State-govt./article16774354.ece |access-date=2023-06-26 |issn=0971-751X}}

Adani Wilmar, along with other members of the Roundtable on Sustainable Palm Oil, has been criticized for its role in deforestation and the loss of habitat for orangutans, tigers, and elephants in the Sumatra and Borneo regions of Indonesia and Malaysia.{{Cite web |last=Adani Watch |date=September 2020 |title=Dossier on the Adani Group's environmental and social record |url=https://www.banktrack.org/download/dossier_on_the_adani_group_s_environmental_and_social_record/adani_dossier_preliminary_sept2020_intermediate_21.pdf}}{{cite news |title=How oil palm could kill orangutans |url=https://www.thehindu.com/opinion/op-ed/How-oil-palm-could-kill-orangutans/article11408795.ece |access-date=29 August 2024 |work=The Hindu |date=12 March 2014 |language=en-IN}} The nonprofit Adani Watch states that "through its joint venture with Wilmar, Adani is a major refiner and trader in palm oil, an industry responsible for devastating large areas of rainforest in Southeast Asia."

In June 2022, C4ADS stated in its report that food companies, including Adani Wilmar, "continue to enable forced labor through their indiscriminate import of tainted palm oil."{{Cite web |last=Shereikis |first=Nick |date=2022-06-02 |title=Spoiled Fruit |url=https://c4ads.org/commentary/spoiled-fruit/ |access-date=2023-04-23 |website=C4ADS |language=en-US}}

On 9 February 2023, the Himachal Pradesh Excise Department raided the company's warehouses in the state.{{Cite web |last=KO |date=2023-02-09 |title=More Trouble For Adani? Himachal Excise Dept Raids Adani Wilmar Warehouse - Kashmir Observer |url=https://kashmirobserver.net/2023/02/09/more-trouble-for-adani-himachal-excise-dept-raids-adani-wilmar-warehouse/ |access-date=2023-04-22 |language=en-US}}

In February 2023, Adani Wilmar's joint venture with KTV Group was penalized by the Supreme Court of India for violations of coastal regulations in Tamil Nadu. The company had constructed an oil storage facility and pipeline, and local fishermen claimed that oil leaks from the 7-kilometer pipeline were killing fish in the area. The court ordered that the facility be demolished.{{Cite web |title=How an Adani Joint Venture Tried to Use Semantics to Circumvent Green Laws – at Cost of Fishers |url=https://thewire.in/environment/adani-joint-venture-ktv-oil-mills-health-food |access-date=2023-04-23 |website=The Wire}}

{{Reflist}}

• {{Official website|https://www.adaniwilmar.com/}}
• [https://www.fortunefoods.com/ Fortune Foods]

Category:Indian brands

Category:Food and drink companies of India

Category:Companies listed on the Bombay Stock Exchange

Category:Multinational companies headquartered in India

Category:Companies listed on the National Stock Exchange of India

Category:Indian companies established in 1999

Category:Companies based in Gujarat

Category:2022 initial public offerings