Adani Wilmar Ltd (AWL), a leading edible oil company, set a price range of 218-230 per share for their Rs.3,600-crore initial public offering (IPO) on Friday, January 21, 2022..
The public subscription period for the three-day inaugural share-sale will begin on January 27 and end on January 31. According to the corporation, the auction for anchor investors will begin on January 25.
AWL is a 50:50 joint venture between the Adani Group of Ahmedabad and the Wilmar Group of Singapore. The firm, which produces cooking oils under the Fortune brand, has reduced the amount of its first public offering from Rs.4,500 crore to Rs.3,600 crore. There will be no secondary offering for the public offering, which will consist of a new issue of equity shares.
The profits from the IPO will be utilised to fund capital expenditures, debt repayment, and strategic acquisitions and investments.Qualified institutional buyers will receive half of the issue size, retail investors will receive 35 percent, and non-institutional investors would receive 15 percent. Investors can place bids for as few as 65 equity shares and as many as they want.
Weekend Market: Sensex is down 427-pts, Nifty retains 17,600
Walmart invites Indian businesses to sell in US through its online marketplace
