This is a great opportunity for you if you want to invest in Adani Group companies. Edible oil company Adani Wilmar Ltd on Monday submitted documents to market regulator SEBI through an initial public offering (IPO) of Rs 4,500 crore. The company sells edible oils under the Fortune brand and is the leading company in the sector. Let us tell you that Adani Enterprises Limited and Wilmar International Limited have a 50-50% stake in Adani Wilmar Limited.
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According to the prospectus, Adani Wilmar will issue new shares worth Rs 4,500 crore under the IPO. “This does not include a sales offer,” Adani Group said in a note to stock exchanges. This amount is used for repurchases, strategic acquisitions and investments, and general company operations.
It is the seventh company of the Adani Group listed on the stock exchange. Six companies including Adani Port, Adani Energy, Adani Transmission and Adani Power have already been listed on the stock market. Fortune branded oil has about 20% market share in the country. The company has a processing capacity of 16,800 tonnes in its existing 40 units. At the same time, the packaging capacity is 12,900 tons. In addition, the company packs basmati rice, dal and soy.
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