Adani Wilmar IPO: Adani Wilmer to reduce IPO size, Gautam Adani’s company may launch IPO this month | Adani Wilmar cuts IPO size to Rs 3600 crore from Rs 4500 crore Gautam Adani
Adani Wilmar’s IPO may launch in January 2022. However, Adani Wilmar has reduced the size of its IPO.
Adani Wilmar cuts IPO size to Rs 3600 crore from Rs 4500 crore
Adani Wilmar’s IPO may be launched this month i.e. in January 2022. However, Adani Wilmar has reduced the size of its IPO. Adani Wilmer’s IPO size is Rs. 4500 crore to Rs. 3600 crore has been done. This will be a completely fresh issue. The company will use the money raised from the IPO to repay the loan as well as to grow the business.
The money raised by Adani Wilmer IPO will be repaid in terms of capital expenditure, acquisitions and repayment of loans through this amount. Let me tell you that Adani Wilmer is a joint venture between Adani Enterprise and Wilmer Group in which both have 50:50% stake. Market regulator SEBI has already approved Adani Wilmer’s IPO.
Seventh listed company of Adani Group
Adani will be the seventh Adani Group company to be listed in the Wilmer market. Adani Wilmer makes edible oil brand Fortune. The company was formed in 1999 as a joint venture between Adani Group and Singapore-based Wilmer. The Wilmer Group’s business is primarily agricultural. Fortune Oil is the home of choice. The company also produces dozens of products including rice, soybeans, chickpea flour, pulses, herbs, porridge, soap, flour, sugar. Most of the products come under the name of Fortune Branch.
The distribution network is the largest
The edible oil market has the largest distribution network in the country, according to information available on Adani Wilmer’s website. It has 85 stock points and 5000 distributors across the country. Its share in the retail market is about 10 percent. Its products are available at about 1.5 million retail outlets across the country. The company also launched Rice Bran and Vivo for health reasons. The company’s other edible oil brand Rupachanda is the market leader in Bangladesh. The company also has two large refineries there.
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