This IPO will be of 4500 crores.
Adani Wilmar IPO: Markets regulator SEBI has given approval to Adani Wilmar to bring IPO. Adani Wilmar’s IPO will be of 4500 crores. This will be a completely fresh issue. Let us tell you that Adani Wilmar is a joint venture of Adani Enterprises and Wilmar Group in 50:50 share. Apart from this, SEBI has also approved Rakesh Jhunjhunwala-backed Star Health to bring IPO.
Star Health IPO will be around 5500 crores. There will be 2000 crore fresh issue in this. This IPO has both fresh issue as well as offer for sale options. According to the report of Zee Business, Rakesh Jhunjhunwar is not selling any stake in Star Health IPO. SEBI has approved IPO of 1550 crores for two more companies Penna Cement and 4000 crores IPO of Nykaa.
Adani will be the seventh listed company of the Group
After the approval of the Adani Wilmar IPO, this will be the seventh company of the Adani Group to be listed in the market. Adani Wilmar makes edible oil brand 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. 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.
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 also 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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