Adani Wilmar’s IPO to open for subscription on January 27
Mumbai:
The initial public offering (IPO) of Adani Wilmar, a joint venture company between Gautam Adani-led conglomerate Adani Group and Singapore-based Wilmar Group, will open for membership tomorrow, January 27.
The IPO comprises a fresh issue of 15.65 crore shares worth Rs 3,600 crore and the entire proceeds will go to the company. There will be no secondary offer.
The price band for its public issue has been fixed at Rs 218-230 per share.
Investors can bid for a minimum of 65 shares and thereafter in multiples of 65. Retail investors can invest a minimum of Rs 14,950 in a lot and a maximum of Rs 194,350 for 13 lots.
The company’s shares will be listed on the stock exchanges – Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on February 8, 2022.
Post the IPO, the promoter stake in Adani Wilmar will come down to 87.92 per cent from the current 100 per cent.
Adani Wilmar’s flagship brand Fortune is the largest selling edible oil brand in India.
Adani Wilmar is a joint venture established in January 1999 between the Adani Group, a multinational diversified business conglomerate with significant interests in the transportation and logistics, and energy and utility sectors, and the Wilmar Group, one of Asia’s leading agri-business conglomerates. Is. As of February 2021, it was ranked among the largest listed companies by market capitalization on the Singapore Exchange.
,