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Adani Wilmar IPO to open on Jan 27: Details here

Adani Wilmar IPO to open on Jan 27: Details here

The issue comprises a fresh issue of new equity shares of face value of rupee 1 for an amount up to Rs 3,600 crore, the company stated.

Adani Wilmar IPO to open on Jan 27. (representational image) Adani Wilmar IPO to open on Jan 27. (representational image)

Adani Wilmar, the popular FMCG company set up in 1999 as a 50:50 joint venture between Gautam Adani led Adani group and Singapore based Wilmar, will be launching its initial public offer (IPO) on 27 January, according to a company statement released on Thursday.

"Adani Enterprises Limited (“AEL” or the “Company”) has been informed that the red herring prospectus dated 19th January, 2022 of AWL was filed with the Registrar of Companies, Gujarat (“ROC”) on 19th January, 2022 and approved by the ROC on 20th January, 2022 (“RHP”)," the company stated.

The issue comprises a fresh issue of new equity shares of face value of rupee 1 for an amount up to Rs 3,600 crore (including reservation for certain eligible employees of AWL and its subsidiaries, eligible employees of AEL and for certain eligible AEL shareholders as on the date of the RHP and as detailed in such RHP), it stated. 

The IPO will be open for subscription by the public on 27 January, 2022 and shall close on 31 January, 2022. The price band will be decided in consultation with the book running lead managers and will be advertised at least two working days prior to the Issue opening date i.e. 27th January, 2022 in all editions of Financial Express, all editions of Jansatta and Jai Hind, the company further stated.

Earlier, it was known that Adani Wilmar was to raise around Rs 4,500 crore in IPO via a pure primary issuance of shares. However, according to a PTI report on 14th January, this was later reduced to Rs 3,600 crores. The IPO would not have an OFS ( offer for sale) component and the company had only reduced the portion of general corporate purposes and not reduced the core objects of the issue, the report added.

Published on: Jan 20, 2022, 6:25 PM IST
Posted by: Aparna Banerjea, Jan 20, 2022, 6:20 PM IST