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Adani Wilmar IPO to open on Jan 27 2022 at Rs 218-230 per share January 24 2022Adani Wilmar IPO

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Adani Wilmar IPO

The Adani Wilmar IPO (Initial Public Offering) will open for subscription on January 27th, 2022, and will stay open for bidding until January 31st, 2022. The public offering's price band has been set at 218 to 230 per equity share, with the business aiming to raise 3600 crore through this book-built issuing. Both the NSE and the BSE will list Adani Wilmar shares. According to market analysts, Adani Wilmar's stock is now selling at a premium of 65 in the grey market.

The proceeds of the issue, totaling Rs 1,900 crore, would be utilized for capital expenditure, Rs 1,058.90 crore for debt reduction, and Rs 450 crore for merger and acquisition and investments.

The issue's lead managers include Kotak Mahindra Capital, JP Morgan India, BofA Securities India, Credit Suisse Securities India, ICICI Securities, HDFC Bank, and BNP Paribas.

The company recorded a consolidated total income of Rs 24,957.29 crore for the quarter ending September 2021, up from Rs 16,273,73 crore the previous year. The net profit for the period was Rs 357.13 crore, up from Rs 288.79 crore the previous year. The firm's total outstanding borrowings (on a consolidated basis) were Rs 9,191.55 crore as of September 2021.

Fortune's edible oil has an 18.3 percent market share in March 2021, making it India's No. 1 edible oil brand. The flagship brand is the most popular edible oil brand in India. Since 2013, the company has used its branding and distribution network to sell a variety of packaged items, including wheat flour, rice, pulses, besan, sugar, soya chunks, and ready-to-cook khichdi.

The firm has 22 plants in India, with 10 crushing units and 19 refineries strategically positioned throughout ten states. Ten of the 19 refineries are port-based, allowing for the use of imported crude edible oil and lowering transportation costs, while the remaining refineries are mostly in the hinterland, near raw material production bases, lowering storage costs. With a planned capacity of 5,000 MT per day, its refinery at Mundra is one of India's largest single-location refineries.

Furthermore, as of September 30, 2021, it has 36 tolling plants across India to meet increased demand and assure its presence in various regions of the nation, manufacturing mustard oil, rice bran oil, wheat flour, rice, pulses, sugar, soya chunks, and khichdi with raw materials it provides.

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