Adani Enterprises on Thursays mentioned the IPO of Adani Wilmar Ltd (AWL) will open for subscription on January 27 and shall shut on Jan 31.
Adani Enterprises mentioned the problem contains of contemporary difficulty of recent fairness shares by Adani Wilmar for as much as Rs 3,600 crore.
These holding a number of share Adani Enterprises share in demat on January 19 can be thought-about eligible shareholder.
The corporate, which sells cooking oils underneath the Fortune model, is a 50:50 three way partnership firm between Ahmedabad-based Adani Group and Singapore’s Wilmar Group.
AWL, which is among the many main meals FMCG firms in India with revenues of Rs 37,195 crore, plans to aggressively have a look at M&A (merger and acquisition) prospects within the meals area. The corporate might purchase a model or an organization engaged in meals, staples and value-added product classes.
At the moment, six Adani group firms are listed on home bourses. Aside from Adani Enterprises, different listed ones are Adani Transmission, Adani Inexperienced Power, Adani Energy, Adani Whole Fuel, and Adani Ports and Particular Financial Zone.
Out of the IPO proceeds, Rs 1,900 crore can be used for capital expenditure, Rs 1,100 crore can be used for the compensation of debt and Rs 500 crore in funding strategic acquisitions and investments, reported PTI on January 15.