Gautam Adani’s seventh company is preparing to be listed in the stock market. It is believed that Adani Wilmar’s IPO will come and through this the company will collect a fund of Rs 4500 crore.
This will be the seventh company of the Adani Group to be listed in the market.
Adani Wilmar IPO: Another company of Gautam Adani is going to be listed in the stock market. At present, six companies of the Adani Group are listed in the market. According to the report of CNBC TV18, Adani Wilmar’s IPO could be of 4500 crores. The valuation of the company can be between 37500 to 45000 crores. It is believed that the company can issue up to 10-20 percent stake.
Adani Enterprises has 50 percent stake in this company. Accordingly, the value of Adani Enterprises’ share in Adani Wilmar could be Rs 18750-22500 crore. According to the report, the IPO of Adani Wilmar will be a fresh issue. JP Morgan, Kotak Mahindra Capital and ICICI Securities have been appointed as bankers. Adani Wilmar is a joint venture between Adani Enterprises and Wilmar International. In this, the share of both the groups is 50-50 percent.
Adani plans to become India’s largest food company
Adani Wilmer has a big plan regarding the fund company. According to the company’s plan, Adani Wilmer will become India’s largest food company by 2027. Through Adani Wilmer, Gautam Adani will compete with Baba Ramdev’s company Ruchi Soya. 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.
Company established in 1999
Adani Wilmar’s most popular product is ‘Fortune’. This company was established in 1999 in a joint venture with Adani Group and Singapore based Wilmar Company. The business of Wilmar Group is mainly agri business.
largest distribution network
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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