Packaged food company Adani Wilmar Ltd has got the regulatory clearance for its Initial Public Offer (IPO) to raise Rs 3,600 crore from the equity market. The IPO of the Adani Group company will open for subscription by the public on January 27, 2022 and close on January 31, 2022.
The price band for the Issue will be decided by the company in consultation with the book running lead managers and will be advertised at least two days prior to the issue opening date, Adani Enterprise said in a filing. Out of the total proceeds, Adani Wilmar plans to use Rs 1,000 cr for repayment/pre-payment of debts, Rs 1,900 crore for capital expenditure and Rs 450 crore for strategic acquisitions.