Fortune oil maker Adani Wilmar to open its ₹3,600 crore IPO on January 27

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Fortune oil maker Adani Wilmar to open its ₹3,600 crore IPO on January 27
BCCL
  • FMCG company Adani Wilmar will open its IPO on January 27 and will close on January 31.
  • Adani Wilmar is a 50:50 joint venture between Gautam Adani's Adani Group and Singapore-based Wilmar Group.
  • The company will sell its initial shares in the price band of ₹218-230.
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Fast moving consumer goods (FMCG) company Adani Wilmar, known for edible oil 'Fortune', will open its initial public offering (IPO) on January 27 and will close on January 31.

The IPO is a complete fresh issue of equity shares of ₹3,600 crore and no existing promoters or shareholders will be selling any shares.

Adani Wilmar is a joint venture between Adani Group and Singapore-based Wilmar, which was formed in 1999. It sells cooking oils under the Fortune brand as well as various other food products like rice and sugar.

Adani Wilmar will be the seventh Adani Group company to get listed on Indian exchanges as currently six Adani group companies are listed namely Adani Enterprises, Adani Transmission, Adani Green Energy, Adani Power, Adani Total Gas, and Adani Ports and Special Economic Zone.

Shares of the company are currently commanding a premium of ₹100 in the grey market.

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Here are some of the important details of the IPO:
Issue details
Price band₹218-230
IPO open dateJanuary 27
IPO close dateJanuary 31
Allotment dateFebruary 3
Initiation of refundsFebruary 4
Credit of shares to demat accountFebruary 7
IPO listing dateFebruary 8
Minimum lot65
The Ahmedabad-based company has witnessed good growth in revenue and profitability in the last three years.
Adani WilmarRevenueNet profit
FY21₹37,090 ₹727
FY20₹29,657 ₹460
FY19₹28,797 ₹375

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