Fast Moving Consumer Goods (FMCG) giant Adani Wilmar Ltd is eyeing a major debut in the Indian Capital Market. Adani Wilmar, a joint venture between Gautam Adani's Adani Group and Singapore's Wilmar, has filed its DRHP (draft red herring prospectus) with Securities and Exchange Board of India (SEBI) for around Rs 4,500 crore IPO, according to Livemint.
If Adani Wilmar gets listed, it will be the seventh listed company from Adani Group, which holds a portfolio in various sectors. Other listed companies are Adani Enterprises, Adani Power Ltd, Adani Ports, Adani Transmission Ltd, Adani Green Energy Ltd and Adani Total Gas Ltd.
Gautam Adani's firm said that the money generated from the IPO will be used for the expansion of the company, acquisitions and repayments of borrowings.
Adani Wilmar is the leading edible oil brand in India with offerings comprising of soya bean oil, sunflower oil, mustard oil, among others. In this category, its Fortune brand holds around 20% market share in India. The venture also produces packaged Basmati rice, soya chunks, pulses and flour. Notably, Adani Wilmar is not alone in the edible oil segment who plans to make a market debut. Its competitor Gemini Edibles also plans to launch an Initial Public Offering (IPO) and raise more than Rs 1,000 crore.
The company defines itself as "one of the few large FMCG food companies in India to offer most of the essential kitchen commodities for Indian consumers, including edible oil, wheat flour, rice, pulses and sugar. Our products are offered under a diverse range of brands across a broad price spectrum and cater to different customer groups."
According to its website, Adani Wilmar's vision is to be a "leading agribusiness company committed to sustainably deliver safe, nutritious and quality agricultural commodity and food through innovation, highest standards of environmental, social and governance practices, and the creation of livelihoods in communities in which we operate to deliver long term value to all our stakeholders."