Adani Wilmar, which aims to be the largest food company in India by 2027, is trying to muscle its way in the fast-growing consumer segment and unlock value through the IPO.
Gautam Adani-led Adani Wilmer is preparing to raise nearly $1 billion in 2021 through an initial public offering (IPO). This is in line with the platform’s agenda to become the largest food company by 2027 and is trying to manoeuvre its way in the fast-growing consumer segment.
Adani Wilmar, which aims to be the largest food company in India by 2027, is trying to muscle its way in the fast-growing consumer segment and unlock value through the IPO. When the plan is executed, it will raise Rs 7,000 crore, making it the seventh firm to be listed from the Adani group’s stable.
The firm is known for making popular edible oil brand ‘Fortune’ which most of us would be aware about. The brand was set up in 1999 as a joint venture between Singapore-based Wilmar and the Adani Group. It has diversified into other verticals as well such as maida, atta, soji, basmati rice, pulses, besan, and rawa among others.
In the edible oil segment, Adani Wilmar is on the same wavelength as its contemporaries Gemini, Nature Fresh, Dhara, and Sweekar among other brands. These mainstream brands are backed by big players like Saffola, Cargill, Marico, Sundrop, Mother Dairy among others. As per its official website, Adani Wilmar has the largest outreach among all the edible oil players in India. Presently, it has 5,000 distributors, 85 stock points, and 10% retail penetration. At a local level, it is spread across 1.5 million outlets all over the country. It has also introduced value added healthy oils like Vivo and Rice Bran. In Bangladesh it owns two large refineries producing its edible oil brand Rupchanda, which is the market leader.
Source: Business World
