Analysts from RHB Group Research and CGS-CIMB Research have maintained their “add” or “buy” calls and target prices on Wilmar International as its 50%-owned subsidiary Adani Wilmar (AWL) prepares to list on the BSE and National Stock Exchange of India. 

CGS-CIMB’s Ivy Ng and Nagulan Ravi maintained their target price of $6.15, while RHB’s Singapore research team gave a target price of $5.75. 

The proposed IPO will comprise the issuance of new shares by AWL for an amount of up to INR45 billion ($819 million), and will not have any secondary listing. 

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