Adani Wilmar IPO to open on January 27

21 Jan 2022 , 12:46 PM

Adani Wilmar Limited (AWL), a 50:50 joint venture company between the Adani group and the Wilmar group, will be launching its initial public offer (IPO) on January 27, 2021, Adani Enterprises Limited said in a filing on Thursday.

“AEL has been informed that the red herring prospectus dated January 19, 2022, of AWL was filed with the Registrar of Companies, Gujarat (ROC) on January 19, 2022, and approved by the ROC on January 20, 2022 (RHP),” company said.

The Issue comprises a fresh issue of new equity shares of the face value of Re1 (equity shares) by AWL for an amount up to Rs3,600cr (including reservation for certain eligible employees of AWL and its subsidiaries, eligible employees of AEL and for certain eligible AEL shareholders as on the date of the RHP and as detailed in such RHP).

The Issue will be open for subscription by the public on January 27, 2022 and shall close on January 31, 2022. The price band for the Issue, which will be decided by AWL in consultation with the book running lead managers, will be advertised at least two working days prior to the Issue opening date i.e. January 27, 2022 in all editions of Financial Express, all editions of Jansatta and Jai Hind, company added. 

At around 12.50 pm, Adani Enterprises Ltd was trading at Rs1,858.05 per piece down by Rs7.4 or 0.4% from its previous closing of Rs1,865.45 per piece on the BSE.

Kotak Mahindra Capital, JP Morgan India, BofA Securities India, Credit Suisse Securities (India), ICICI Securities, HDFC Bank and BNP Paribas are the book running lead managers to the issue.

Link Intime India is appointed as the registrar to the issue. The equity shares of the company will list on both BSE and NSE.