One-liner: Edible oil major Adani Wilmar Ltd (AWL) has cut the size of its initial share-sale to ₹3,600Cr from the ₹4,500Cr planned earlier, people familiar with the development said on Friday.
IPO planned this month: The company, which sells cooking oils under the Fortune brand, is expected to float its iIPO this month, they added.
50:50 JV firm: AWL is a 50:50 joint venture company between Ahmedabad-based Adani group and Singapore's Wilmar group.
No second offering: Now, the IPO will comprise a fresh issue of equity shares worth ₹3,600Cr. There will not be any secondary offering.
₹4.500Cr issue planned: According to the draft red herring prospectus, it was aiming to raise ₹4,500 crore from the market by issuing fresh shares.