AFPRelated
MUMBAI: Adani Wilmar, a 50-50 joint venture between Adani Enterprises and Wilmar Group, has today filed a draft red herring prospectus with the SEBI, said in a filing to the bourses.
Adani Wilmar will raise Rs 4,500 crore through a fresh issue of equity shares. The company’s existing shareholders will not sell any stake in the IPO, Adani Enterprises said.
Adani Wilmar is one of the few large FMCG food companies in India to offer most of the essential kitchen commodities for Indian consumers, including edible oil, wheat flour, rice, pulses, and sugar under a diverse range of brands across a broad spectrum, the company said.
Adani Wilmar’s IPO comes on the heel of rival Ruchi Soya’s follow-on public offer which may hit the primary market later this month.
Shares of Adani Enterprises ended 1.2 per cent higher at Rs 1,437.25 on the BSE today.
Adani Wilmar will raise Rs 4,500 crore through a fresh issue of equity shares. The company’s existing shareholders will not sell any stake in the IPO, Adani Enterprises said.
Adani Wilmar is one of the few large FMCG food companies in India to offer most of the essential kitchen commodities for Indian consumers, including edible oil, wheat flour, rice, pulses, and sugar under a diverse range of brands across a broad spectrum, the company said.
Did you Know?
Stock score of Adani Enterprises Ltd moved up by 1 in a week on a 10-point scale.
View Latest Stock Report »Adani Wilmar’s IPO comes on the heel of rival Ruchi Soya’s follow-on public offer which may hit the primary market later this month.
Shares of Adani Enterprises ended 1.2 per cent higher at Rs 1,437.25 on the BSE today.
Read More News on
Download The Economic Times News App to get Daily Market Updates & Live Business News.