The initial public offering (IPO) of Adani Wilmar, a 50
The IPO comprises fresh issuance of about 15.65 crore shares worth Rs 3,600 crore and the entire proceeds will go to the company. There will not be any secondary offering.
The price band has been fixed at Rs 218-230 a share for its public issue.
Investors can bid for a minimum of 65 shares and in multiples of 65 thereafter. 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 are expected to list on stock exchanges - Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) - on February 8, 2022.
After the IPO, the promoter's shareholding in Adani Wilmar will come down from the current 100 per cent to 87.92 per cent.
Adani Wilmar's flagship brand Fortune is the largest selling edible oil brand in India.
Adani Wilmar is a joint venture incorporated in January 1999 between the Adani Group, which is a multinational diversified business group with significant interests across transport and logistics, and energy and utility sectors, and the Wilmar Group, one of Asia's leading agri-business groups which was ranked among the largest listed companies by market capitalisation on the Singapore Exchange as of February 2021.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU