India’s leading edible oil refiner Adani Wilmar has set the indicative price band for its initial public offering (IPO) of shares at between Rs 218 and Rs 230 apiece, according to a marketing term sheet for the offering reviewed by Reuters.
The IPO, which will open for bidding on January 27, will value the 50-50 joint venture between Singapore agribusiness Wilmar International and Indian conglomerate Adani Group at Rs 29,900 crore ($4.01 billion) at the top end of the price range.
The firm has cut the IPO size to Rs 3,600 crore from Rs 4,500 crore announced in 2021.
Adani Wilmar sells kitchen commodities such as edible oil and wheat in India under a diverse range of brands.
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