Adani Wilmar to Open its IPO on January 27

Adani Wilmar, the edible oil major has announced that the company will open its initial public offering (IPO) next week on January 27. The price band for the IPO is fixed at Rs 218-230 a share for an initial share sale worth Rs 3,600 crore that will conclude on January 31.

The fresh issue of equity shares will be allotted to the public without any secondary offering. According to the market observers, shares of Adani Wilmar are expected to list on stock exchange BSE and NSE in February 2022.

Adani Wilmar is a 50:50 joint venture between Adani Group and Singapore based Wilmar Group. The joint venture is popularly known as the brand name of its edible oil, Fortune. The brand sells a wide range of edible oils including soya bean, sunflower, mustard and rice bran.

If the IPO is successful, Adani Wilmar will be the seventh Adani Group company to get listed on the Indian Stock Exchanges along with Adani Transmission, Adani Green Energy, Adani Power, Adani Total Gas, and Adani Ports.