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After the IPO plan is executed successfully, it will raise Rs 7,000 crore for Wilmar, making it the seventh firm to be listed in the market from the Adani group’s bouquet of companies.
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Led by Adani group of industries, Adani Wilmer is planning to raise nearly $1 billion in 2021 through an initial public offering (IPO). This is in line with the company's agenda to become the largest food company by 2027, while maneuvering its way as a major player in the fast-growing consumer segment.
After the IPO plan is executed successfully, it will raise Rs 7,000 crore for Wilmar, making it the seventh firm to be listed in the market from the Adani group’s bouquet of companies.
The firm is known for making popular edible oil brand ‘Fortune’ which most of us would be aware about. The brand was set up in 1999 as a joint venture between Singapore-based Wilmar and the Adani Group. It has diversified into other verticals as well such as maida, atta, soji, basmati rice, pulses, besan, and rawa among others.
In the edible oil segment, Adani Wilmar is on the same wavelength as its contemporaries Gemini, Nature Fresh, Dhara, and Sweekar among other brands. These mainstream brands are backed by big players like Saffola, Cargill, Marico, Sundrop, Mother Dairy among others. As per its official website, Adani Wilmar has the largest outreach among all the edible oil players in India. Presently, it has 5,000 distributors, 85 stock points, and 10% retail penetration.
At a local level, it is spread across 1.5 million outlets all over the country. It has also introduced value added healthy oils like Vivo and Rice Bran. In Bangladesh it owns two large refineries producing its edible oil brand Rupchanda, which is the market leader.