The public offering (IPO) of Adani Wilmar, a joint venture between Gautam Adani-led conglomerate Adani Group and Singaporean Wilmar Group, will open for tender tomorrow, January 27.
The IPO consists of a new 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 has been set at Rs 218-230 per share for the public offering.
Investors can bid on a minimum of 65 shares and thereafter in multiples of 65. Retail investors can invest a minimum of Rs 14,950 in one lot and their maximum investment can be 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.
Following the IPO, the promoter’s stake in Adani Wilmar will drop from its current 100 percent to 87.92 percent.
Adani Wilmar’s flagship brand Fortune is the top selling edible oil brand in India.
Adani Wilmar is a joint venture established in January 1999 between the Adani Group, a multinational diversified business group with significant interests in the transportation, logistics, energy and utilities sectors, and the Wilmar Group, one of Asia’s leading agribusiness groups that was ranked among the largest publicly traded companies by market capitalization on the Singapore Exchange as of February 2021.