Does Adani Wilmar also have plans to go for an IPO and list on the stock exchanges?
Answer
Answer
It seems to be the season of IPOs with the market easily absorbing mega IPOs. The latest to enter the IPO fray is Adani Wilmar, which becomes the seventh Adani group stock to list. Adani Wilmar was set up as a joint venture between Adani Group and Wilmar of Singapore in 1999. Now Adani Wilmar has filed DRHP with SEBI to raise Rs.4,500 crore via an IPO.
Adani Wilmar is famous for its Fortune cooking oil brand but has also diversified into basmati rice, atta, maida, sooji, rawa, pulses and besan. The funds will be used to fuel growth with Adani Wilmar’s dreams of becoming largest food company by 2027. Currently, it has refining capacity of 16,800 tons per day and seed crushing capacity of 8,800 TPD.