September 25, 2022

The brand of the Adani Group is seen on the facade of certainly one of its buildings on the outskirts of Ahmedabad, India, April 13, 2021. REUTERS/Amit Dave/File Picture

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MUMBAI, Jan 21 (Reuters) – India’s main edible oil refiner Adani Wilmar has set the indicative worth band for its preliminary public providing (IPO) of shares at between 218 rupees and 230 rupees apiece, in accordance with a advertising and marketing time period sheet for the providing reviewed by Reuters.

The IPO, which is able to open for bidding on Jan. 27, will worth the 50-50 three way partnership between Singapore agribusiness Wilmar Worldwide (WLIL.SI) and Indian conglomerate Adani Group (ADEL.NS) at 299 billion rupees ($4.01 billion) on the prime finish of the worth vary.

The agency has minimize the IPO dimension to 36 billion rupees from 45 billion rupees introduced in 2021.

Adani Wilmar sells kitchen commodities corresponding to edible oil and wheat in India below a various vary of manufacturers.

($1 = 74.5150 Indian rupees)

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Reporting by Rajendra Jadhav; Modifying by Jacqueline Wong

Our Requirements: The Thomson Reuters Belief Ideas.

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