New Delhi: The Initial Public Listing (IPO) of Adani Wilmar will open on January 27 (Thursday) and will close on January 31 (Monday). The joint venture between Ahmedabad-based Adani Group and Singapore’s Wilmar Group have fixed a price band of Rs 218-230 per share for its IPO, the company has said.
Adani Wilmar, which seeks to become India’s biggest food and FMCG company, plans to raise Rs 3,600 crore through IPO.
In a news release, the firm said that a discount of Rs 21 per equity share is being offered to eligible employees bidding in the employee reservation portion. The floor price is kept 218 times the face value of the equity shares and the cap price is 230 times of the face value of the equity shares.
The company had plans to raise Rs 4,500 crore via listing. The equity shares of Adani Wilmar offered through the Red Herring Prospectus (RHP) are proposed to be listed on the BSE and NSE.
At present, six Adani group companies are listed on the domestic exchanges. Barring Adani Enterprises, the other listed companies are Adani Transmission, Adani Green Energy, Adani Power, Adani Total Gas, and Adani Ports and Special Economic Zone.
Adani Wilmar’s revenue rose to Rs 24,957 crore for the six months ended September in the current financial year, as against Rs 16,273 crore in the corresponding period of the previous year. During the same period, company’s profit grew to Rs 357 crore from Rs 288 crore. The company clocked a revenue of Rs 37,195 crore and profit of Rs 728 crore in the entire 2020-21 financial year.
Apart from edible oil, Adani Wilmar sells food products such as rice, wheat flour, and sugar. It also sells non-food products like soap, handwash, and sanitisers.