Adani Wilmar files prospectus, to issue up to 36 billion rupees in new shares for IPO

Adani Wilmar files prospectus, to issue up to 36 billion rupees in new shares for IPO
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SINGAPORE (Jan 21): Adani Wilmar, the 50:50 joint venture company of Wilmar International and India’s Adani Group, filed a prospectus with India's Registrar of Companies on Wednesday (Jan 19) in relation to its proposed initial public offering (IPO) on BSE Ltd and the National Stock Exchange of India.

Under the listing, Adani Wilmar will issue up to 36 billion rupees (S$651.1 million or about RM2.02 billion) worth of new shares at one rupee apiece. There will be no secondary offering.

Proceeds of the issue will be used for Adani Wilmar’s capital expenditure, repayment of debt, funding strategic acquisitions and investment and general corporate purposes ... click on link for full story on theedgesingapore.com.