Adani Wilmar IPO will open for registration on January 27
Mumbai:
The initial public offering (IPO) of Adani Wilmar, a joint venture between the Adani Group led by Gautam Adani and Singapore’s Wilmar Group, will go on sale tomorrow.
The IPO consists of a new issue of 15.65 crore shares worth Rs 3,600 and all proceeds will go to the company. There won’t be any secondary offers.
The price range has been fixed at Rs 218-230 per share for its public offering.
Investors can bid a minimum of 65 shares and in multiples of 65 thereafter. Retail investors can invest a minimum of Rs 14,950 for one lot and their maximum investment can be of Rs 194,350 for 13 lots.
The company’s shares will be listed on stock exchanges – Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) – on February 8, 2022.
After the IPO, the promoter’s stake in Adani Wilmar will drop from the current 100% to 87.92%.
Adani Wilmar Fortune’s flagship brand is the best selling cooking oil brand in India.
Adani Wilmar is a joint venture established in January 1999 between the Adani Group, a multinational business group with significant interests in the transportation and logistics sectors as well as the energy and utilities sectors. , and Wilmar Group, one of Asia’s leading agribusiness groups. ranked among the largest listed companies by market capitalization on the Singapore Exchange as of February 2021.
