IPO open
Edible oil major Adani Wilmar’s public issue, comprising fresh equity shares, opened for subscription and will conclude on January 31. The price band of the three day share sale is fixed at 218-230 per share. Ahead of its IPO, Adani Wilmar Ltd had raised 940 crore from anchor investors.
Acquisitions plans
Market observers say that Adani Wilmar shares premium were available at Rs 44 in the grey market. The company’s shares are expected to list on stock exchanges BSE and NSE on February 8, 2022. Adani Wilmar sells cooking oils under the ‘Fortune’ brand. The proceeds of the public issue will be used to fund capital expenditure, reduce debt and for acquisitions.
