This company of Gautam Adani earned 728 crores in FY21, IPO of 4500 crores is coming

This company of Gautam Adani earned 728 crores in FY21, IPO of 4500 crores is coming

Ahmedabad-based company Adani sells its edible oils and other edible items under the brand name Wilmar Fortune. The company has submitted documents for an IPO of Rs 4,500 crore with Sebi.

The ignorant Wilmer

Adani Wilmar, the flagship company of the edible oil sector, has earned a consolidated net profit of Rs 727.64 crore in the last financial year 2020-21. This is 58 percent more than the previous financial year. The company is preparing to bring its initial public offering (IPO). Ahmedabad-based company Adani sells its edible oils and other edible items under the brand name Wilmar Fortune. The company has submitted documents for an IPO of Rs 4,500 crore with the Securities and Exchange Board of India (Sebi).

Ahmedabad-based company Adani sells its edible oils and other edible items under the brand name Wilmar Fortune. The company has submitted documents for an IPO of Rs 4,500 crore with the Securities and Exchange Board of India (Sebi). Let us tell you that Adani Wilmar is a joint venture between the Adani Group and Wilmar of Singapore. This joint venture was formed in 1999.

Income up 25%

Adani Wilmar earned a net profit of Rs 727.64 crore in the last financial year. In the previous financial year, the company had earned a net profit of Rs 460.87 crore. The company’s total income grew by 25 per cent to Rs 37,195.65 crore during the financial year as against Rs 29,766.98 crore in the previous financial year.

Company’s main products

Adani Wilmar’s Edible Oil has many products. Fortune Oil is a household favorite. Apart from this, the company produces dozens of products including rice, soybean, gram flour, pulses, vegetable, khichdi, soap, flour, sugar. Most of the products come under the name Fortune branch.

4500 crore IPO coming

Adani Wilmar has deposited his DRHP with SEBI for an IPO of 4500 crores. This will be a completely fresh issue. DRHP is the document in which a company describes how it will use the funds received through IPO. This shows the future of the company. Adani Enterprises holds 50 per cent stake in Adani Wilmar.

Largest Distribution Network in India

According to the information available on Adani Wilmar’s website, it has the largest distribution network in the country in the edible oil market. It has 85 stock points and 5000 distributors across the country. Its share in the retail market is about 10 percent. Its product is available at about 15 lakh retail outlets across the country. Keeping health in mind, the company has launched special oil Rice Bran and Vivo. Another edible oil brand of the company, Rupchanda, is the market leader in Bangladesh. The company also has two major refineries there.

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