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IPO

Adani Wilmar's Rs.4,500-Cr IPO back on track

Mint  

Adani Wilmar Ltd's initial public offering (IPO), which was put on hold by SEBI, is back on track with the markets regulator resuming the approval process for the share sale. The regulator had sought certain information, which the company has now provided. Adani Wilmar, an equal joint venture between Adani Enterprises Ltd and Wilmar International Ltd which ows the Fortune brand of edible oils, filed draft IPO documents in August. The proposed listing of Adani Wilmar on the stock exchanges will comprise a fresh issue for up to INR 4,500 crore (approximately $600 million). The proceeds from the IPO are proposed to fund the expansion of existing manufacturing facilities and develop new manufacturing facilities, repay borrowings, acquire companies, and other investments.