Adani Wilmar is looking forward to raising Rs 5,000 Crore through an initial public offering. This collection would lead to company to get listed and become the 7th company under Adani Group.
For the purpose of listing the company appointed major investment banks Kotak Mahindra Capital and JP Morgan.
However, Adani Wilmar and JP Morgan refused to comment on the same. Additionally, Kotak Mahindra Capital did not give any response.
According to a source, they have started to work on the draft red herring prospectus.
As per the reports, the amount may change depending on the filing of the IPO paper.
It is a well-performing business in the industry and listing or going public will result in its growth.
In 2020 the company reported an increase in its revenue by 18% along with an operating profit of 5%. In the December quarter-end, the company earned an additional increase in revenue to 31 percent.
The company performed remarkably even in the pandemic and shutdown in the economy. Thus, indicating that it would grow further in the future.
Additionally, their plan included diversification of their portfolio to food and non- food-based products. They aim to focus on expansion in the international market.
Adani Wilmar is a joint venture of Adani Group and Wilmar International Limited. Adani group and is a leading private infrastructure company. On the other hand, Wilmar is Singapore based leading Agribusiness group.
In conclusion, the company’s future goals and past performance indicate it will expand its operations more and earn supplementary profits.
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