Adani Wilmar IPO To Launch On January 27: Read More - Viral Bake
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Adani Wilmar IPO To Launch On January 27: Read More

Adani Wilmar is one of the largest Fast Moving Consumer Goods operator in India and it is all set to launch an IPO on January 27.The company runs under leadership of businessman Gautam Adani. The company is planning to raise Rs 3600 crore through its first intial public offering.

No official statements have been made by the company in official capacity. But there has been news about the IPO Launch among the industry experts. Adani Wilmar is a partnership between Gautam Adani and Singapore’s Wilmar Group. They are known best known under the brand name Fortune.

Money Control has given the latest reports and it says that the Adani Wilmar IPO will be closed for bidding on January 31. The IPO will be launched on January 27 according to the report.

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The price band of the public issue is kept at Rs 218-230 per share. The company is valued at Rs 26,287 crore. The company will be listed on exchange on February 8. Earlier the size of IPO was at Rs 4,500 but then reduced to Rs 3,600.

Out of Rs 3,600 raised by the IPO Rs 1,900 crore will be used for capital expenditure. Rs 1,058 crores will be used for repayment of debt and Rs 450 crore will be used for strategic acquisition.

The Adani Wilmar IPO will be managed by most popular houses like Kotak Mahindra Capital, JP Morgan India, BofA Securities India, Credit Suisse Securities India, ICICI Securities, HDFC Bank and BNP Paribas.

Adani Wilmar edible oil has the market share of 18.3% which makes it No. 1 Brand in India. Since 2013, company has also been working on getting its hands on packaged foods like pulses, rice, wheat flour, sugar and soya chunks. The company has 19 refineries out of which 10 are located near the ports to reduce the transportation costs. A closer proximity to ports facilitates use of crude edible oil that comes from import.

Siddhant Baranwal

Siddhant is a Content Creator. He has been doing this for past three years and have managed to gain good attention of audiences for his work. He is an active reader and has huge respect for art and theatre.

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