Adani Wilmar’s initial public offering (IPO) date is set for January 27, 2022. The pricing range for the IPO is INR218–230 per share. The business intends to raise INR3,600 crore by the issuance of new shares, with no offer for sale (OFS) component from selling shareholders. The firm, which is one of India’s major FMCG companies, provides key kitchen commodities for Indian customers such as edible oil, wheat flour, rice, lentils, and sugar. The company was formed in 1999 as a joint venture between both the Adani Group, a multinational diversification business group with substantial interests in transportation and logistics, as well as energy and utility sectors, and the Wilmar Group, one of Asia’s leading agribusiness groups and one of the largest listed companies by market capitalization on the Singapore Exchange.

Its product offering is divided into three categories: edible oil, packaged food and FMCG, and industry basics. As of 31 March 2021, its branded edible oil’s Refined Oil in Consumer Packs (ROCP) market share was 18.3 percent, making it India’s largest edible oil brand. Its main brand, “Fortune,” is India’s best-selling edible oil. Since 2013, it has also used its brands and distribution network to sell a diverse range of packaged goods such as packaged wheat flour, rice, lentils, besan, sugar, soya chunks, and ready-to-cook khichdi. In addition, the firm provides a wide range of industry necessities, such as castor oil, oleochemicals, and its derivatives, de-oiled cakes.

The firm has 22 factories strategically positioned throughout 10 Indian states, including 10 crusher units and 18 refineries. Ten of the 18 refineries are port-based to simplify the use of imported crude edible oil and lower transportation costs, while the others are placed in the hinterland near raw material production bases to lower storage costs. Its Mundra refinery, with a maximum capability of 5,000 MT per day, is one of India’s largest individual refineries. Adani Wilmar used 28 contracted tolling units in addition to the 22 plants it owned as of March 31, 2021.