Adani Wilmar Fixes IPO Price Band At Rs 218-230 Per Share , Plans To Raise Rs 3,600 Cr
ABP NewsNew Delhi: Adani Wilmar on Friday fixed a price band of Rs 218-230 a share for its Initial Public Offer through which it aims to raise up to Rs 3,600 crore to fund capital expenditure, reduce debt and for acquisitions as it seeks to become India's biggest food and FMCG company. The public issue of Adani Wilmar, which markets its edible oils and some food products under Fortune brand, comprises fresh issue of equity shares and there will not be any secondary offering. Addressing a virtual press conference, Adani Wilmar CEO and Managing Director Angshu Mallick said the company will focus on increasing its market share in edible oils segment and grow food business. Adani Wilmar Chief Financial Officer Shrikant Kanhere said the price band has been fixed at Rs 218-230 a share.