Adani Wilmar Raises Rs 940 Crore from Anchor Investors

Adani Wilmar, one of the leading FMCG food companies in India, on January 25 mobilised Rs 939.9 crore from 15 anchor investors ahead of its IPO launch. The issue will open for subscription on January 27. The company in its BSE filing said it has finalised allocation of 4.08 crore equity shares to anchor investors at a price of Rs 230 per share, the upper price band. Marquee investors invested in the company through anchor book including Government of Singapore, Monetary Authority of Singapore, Jupiter India Fund, Volrado Venture Partners Fund, Societe Generale, Cohesion MK Best Ideas, Winro Commercial and Dovetail India Fund. Among others, HDFC Mutual Fund, Nippon Life India Trustee, Aditya Birla Sun Life Trustee, and Sun Life Excel India Fund also participated in the anchor book.

Adani Wilmar is planning to raise Rs 3,600 crore through its public issue which is entirely a fresh issue. The offer comprises shares worth Rs 107 crore for its employees and Rs 360 crore worth of shares for shareholders of the company. The price band for the offer, which closes on December 31, has been fixed at Rs 218-230 per share. Employees will get shares of Adani Wilmar at a discount of Rs 21 per shares to final issue price. Half of the offer is reserved for qualified institutional investors, 15 percent for non-institutional investors, and the remaining 35 percent for retail investors.