India's leading edible oil refiner Adani Wilmar 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.
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First Published: Jan 21 2022 | 12:01 PM IST