Adani Wilmar IPO to open on January 27

Ahmedabad:

Adani Wilmar

Ltd’s initial public offering (IPO) will open for subscription on January 27. The Ahmedabad-based company has fixed the price band of the issue at Rs 218 to Rs 230 per equity share of face value of Rs 1 each. The IPO will close on January 31, 2022.The IPO comprises of fresh issue of equity shares aggregating up to Rs. 3,600 crore. Adani

Wilmar

has reserved equity shares aggregating up to Rs 107 crore for its eligible employees, who will get a discount of Rs 21 per share during the bidding process.“Bids can be made for a minimum of 65 equity shares and in multiples of 65 equity shares thereafter,” said Adani Wilmar, which is a 50:50 joint venture between Gautam Adani’s Adani Group and Singapore-based

Wilmar Group

. It sells edible oils and other food products under the Fortune brand.