New Delhi: Investors are going to get a good opportunity to invest in Adani Group. Adani Wilmar, another group company, is now in the process of bringing IPO to be listed on the stock market. The company plans to raise Rs 4,500 crores through this IPO. The company has submitted the documents required for the IPO, draft Red Herring Prospectus (DRHP) to SEBI.
Tell you that this is the same company that produces many products like Fortune brand edible oil. This is FMCG company leading the edible oil market. The company will use the money involved in this way for expansion plans. Tell you that Adani Wilmer is a 50:50 joint venture between Adani Group and the Wilmar Group. Adani has informed a stock exchange that through this IPO it will issue new equity shares and there will be no secondary offer thereafter. The company has said it will use the money raised through this IPO to expand the company's existing factories and develop new factories. It will also repay its old borrowings. Not only that, the company will also purchase assets or other investments of other companies with this amount if required.
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