Lence Pte Ltd Enters Agreement with Adani Commodities LLP for Option to Acquire 31.06% Stake in Adani Wilmar Ltd

Lence Pte Ltd, a promoter of Adani Wilmar Ltd (AWL), has entered into an agreement with Adani Commodities LLP (ACL), another promoter of AWL, for an option to purchase up to 403,739,517 equity shares representing 31.06% of the existing paid up equity share capital of AWL. This option can be exercised at any time as per the agreement. ACL also has a put option to sell the same number of shares to Lence. This agreement creates an encumbrance over the shares of AWL, which is being disclosed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The agreement also restricts ACL from transferring any of the shares without the consent of Lence, except pursuant to exercise of the call option or put option, to its affiliates, or as consented to by Lence.