Lagatar24 Desk
New Delhi, Jan 21: A marketing term sheet for the offering accessed by Reuters revealed that India’s top edible oil refiner Adani Wilmar has set the approximate price band for its initial public offering (IPO) of shares at between Rs. 218 and 230 apiece.
At the top end of the price range, the IPO, which will open for bidding on January 27, will value the 50-50 joint venture between Singapore agribusiness Wilmar International and Indian conglomerate Adani Group at Rs. 29,900 crore ($4.01 billion).
The company has reduced the size of its first public offering (IPO) to Rs. 3,600 crore, down from 4,500 crore announced in 2021.
Adani Wilmar sells a variety of kitchen commodities in India, including edible oil and wheat, under a variety of labels.
