Adani Wilmar has set aside Rs 450 crore from the share sale, to tap more acquisition-led growth opportunities primarily in its non-edible oils business.
The company, which is an equal joint venture between the Adani Group and Singapore's Wilmar Group, is launching a Rs 3,600-crore IPO on January 27.
''We are looking at more inorganic growth opportunities to grow our non-oil/FMCG business. we have earmarked Rs 450 crore from the IPO proceeds to acquire manufacturing units or brands in the food staples business such as wheat flour, rice and besan, ready-to-cook and ready-to-eat segments,'' stated Adani Wilmar chief executive Angshu Mallick.
Mallick added that the acquisitions will be from the broader packaged food industry which may include edible oils, foods & staples, FMCG products, spices & condiments both in the domestic market as well as outside.
(With inputs from PTI)
