Adani Wilmar files papers for ₹4,500 crore IPO
Business / Adani Wilmar files papers for ₹4,500 crore IPO
Business - Adani Wilmar files papers for ₹4,500 crore IPO
New Delhi: Edible oil major Adani Wilmar Ltd (AWL) on Monday filed the draft red herring prospectus with markets regulator Sebi for an initial public offer to raise up to Rs 4,500 crore.The company, which sells cooking oils under the Fortune brand, is a major player in the edible oil industry."The proposed listing of AWL on the stock exchanges will comprise an IPO in the form of fresh issue of new equity shares by AWL for an amount of up to INR 45,000 million (approximately USD 600 million)."There will not be any secondary offering," Adani Enterprises Limited (AEL), the flagship firm of Adani group, said in a regulatory filing.Currently, six Adani group companies are listed on domestic bourses. Apart from AEL, other listed ones are Adani Transmission, Adani Green Energy, Adani Power, Adani Total Gas, and Adani Ports and Special Economic Zone.