Adani Wilmar IPO: IPO to open on January 27

Mumbai -- January 26, ANI The initial public offering IPO of Adani Wilmar, a 50: 50 joint venture company between Gautam Adani-led conglomerate Adani Group and Singapore's Wilmar Group, will open on January 27.

The IPO has issuance of about 15.65 crore shares worth Rs 3,600 crore and the entire proceeds will go to the company. There won't be a secondary offering.

The price band has been fixed at 218 -- 230 a share for the public issue.

Investors can bid for a minimum of 65 shares and multiples of 65 thereafter. Retail investors can invest a minimum of 14,950 in one lot and their maximum investment can be Rs 194,350 for 13 lots.

On February 8, 2022, the company's shares are expected to be listed on the stock exchanges - Bombay Stock Exchange BSE and National Stock Exchange NSE.

After the IPO, the promoter's shareholding in Adani Wilmar will drop from the current 100 per cent to 87.92 per cent.

Adani Wilmar's flagship brand Fortune is the largest selling edible oil brand in India.