Adani Wilmar, the 50:50 joint venture company (JVC) of Wilmar International and India’s Adani Group, has filed a prospectus with India's Registrar of Companies on Jan 19, in relation to its proposed initial public offering (IPO) on the BSE Limited and the National Stock Exchange of India.
Under its listing, Adani Wilmar will issue up to 36 billion rupees ($651.1 million) worth of new shares at 1 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 investments and general corporate purposes.
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