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Sebi keeps Adani Wilmar's Rs.4,500-Cr IPO in abeyance

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Capital markets regulator the Securities and Exchange Board of India (Seb) has kept the proposed INR 4,500-crore initial share-sale of edible oil major Adani Wilmar Ltd (AWL) in “abeyance” without giving reasons. The company had filed preliminary papers for IPO with Sebi on August 3. The proposed listing of AWL on the stock exchanges will comprise an IPO in the form of fresh issue of new equity shares by AWL for an amount of up to INR 4,500 crore (about USD 600 million). There will not be any secondary offering.