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Adani Wilmar sets IPO price band at Rs 218-230 rupees, to open on Jan 27

Adani Wilmar has set the indicative price band for its initial public offering (IPO) of shares at between 218 rupees and 230 rupees apiece

Adani Wilmar | IPOs | Companies

Reuters  |  Mumbai 

Adani Wilmar

India's leading edible oil refiner has set the indicative price band for its initial public offering (IPO) of shares at between 218 rupees and 230 rupees apiece, according to a marketing term sheet for the offering reviewed by Reuters.

The IPO, which will open for bidding on Jan. 27, will value the 50-50 joint venture between Singapore agribusiness Wilmar International and Indian conglomerate Adani Group at 299 billion rupees ($4.01 billion) at the top end of the price range.

The firm has cut the IPO size to 36 billion rupees from 45 billion rupees announced in 2021.

sells kitchen commodities such as edible oil and wheat in India under a diverse range of brands.

($1 = 74.5150 Indian rupees)

(Reporting by Rajendra Jadhav; Editing by Jacqueline Wong)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, January 21 2022. 12:01 IST