Adani Wilmar Field Files Draft Papers with SEBI to raise INR 4500 cr IPO
Adani Group's edible oil firm Adani Wilmar filed draft papers with markets regulator Sebi to launch its initial public offering (IPO) to raise up to Rs 4,500 crore for expansion funding. Adani Wilmar was formed in 1999 as an equal joint venture between Adani Group and Singapore-based Wilmar. It sells cooking oils under the Fortune brand as well as various other food products like rice and sugar.
The company, which aspires to be a major FMCG player, has a yearly revenue of more than Rs 30,000 crore.
Adani Enterprises said in a regulatory filing that Adani Wilmar Ltd (AWL) has filed a Draft Red Herring Prospectus (DRHP) with Sebi for its IPO.
"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 Rs 45,000 million (approximately USD 600 million)," Adani Enterprises said.
"There will not be any secondary offering," said Adani Enterprises, the flagship firm of the Adani Group.
Adani Wilmar intends to use the net proceeds to expand its existing manufacturing plants, establish new facilities, repay/prepay debt, fund strategic acquisitions and investments, and for general corporate purposes.
"The proposed listing is intended to further the growth of AWL's operations by increasing its market visibility and awareness among current and potential customers," the filing said.
"As there is no assurance that the Proposed Listing will proceed, shareholders and potential investors are advised to exercise caution when dealing with the securities of the company," Adani Enterprises said.
Adani Wilmar, based in Gujarat, celebrated the 20th anniversary of its flagship 'Fortune' brand in November of last year.
According to AWL's Deputy CEO Angshu Mallick, the company's revenue exceeds Rs 30,000 crore, with the edible oil business accounting for approximately Rs 24,000 crore.
Adani Wilmar, based in Gujarat, celebrated the 20th anniversary of its flagship 'Fortune' brand in November of last year.
According to AWL's Deputy CEO Angshu Mallick, the company's revenue exceeds Rs 30,000 crore, with the edible oil business accounting for approximately Rs 24,000 crore.
Six Adani Group companies are currently listed on domestic bourses.
Other companies listed alongside Adani Enterprises include Adani Transmission, Adani Green Energy, Adani Power, Adani Total Gas, and Adani Ports and Special Economic Zone.
The company, which aspires to be a major FMCG player, has a yearly revenue of more than Rs 30,000 crore.
Adani Enterprises said in a regulatory filing that Adani Wilmar Ltd (AWL) has filed a Draft Red Herring Prospectus (DRHP) with Sebi for its IPO.
"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 Rs 45,000 million (approximately USD 600 million)," Adani Enterprises said.
"There will not be any secondary offering," said Adani Enterprises, the flagship firm of the Adani Group.
Adani Wilmar intends to use the net proceeds to expand its existing manufacturing plants, establish new facilities, repay/prepay debt, fund strategic acquisitions and investments, and for general corporate purposes.
"The proposed listing is intended to further the growth of AWL's operations by increasing its market visibility and awareness among current and potential customers," the filing said.
"As there is no assurance that the Proposed Listing will proceed, shareholders and potential investors are advised to exercise caution when dealing with the securities of the company," Adani Enterprises said.
Adani Wilmar, based in Gujarat, celebrated the 20th anniversary of its flagship 'Fortune' brand in November of last year.
According to AWL's Deputy CEO Angshu Mallick, the company's revenue exceeds Rs 30,000 crore, with the edible oil business accounting for approximately Rs 24,000 crore.
Adani Wilmar, based in Gujarat, celebrated the 20th anniversary of its flagship 'Fortune' brand in November of last year.
According to AWL's Deputy CEO Angshu Mallick, the company's revenue exceeds Rs 30,000 crore, with the edible oil business accounting for approximately Rs 24,000 crore.
Six Adani Group companies are currently listed on domestic bourses.
Other companies listed alongside Adani Enterprises include Adani Transmission, Adani Green Energy, Adani Power, Adani Total Gas, and Adani Ports and Special Economic Zone.
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