Adani Wilmar IPO will open for membership on January 27Mumbai: The initial public offering (IPO) of Adani Wilmar, a joint endeavor business between Gautam Adani-led corporation Adani Group and Singapore's Wilmar Group, will open for subscription tomorrow on January 27.

The IPO includes a fresh problem of 15.65 crore shares worth Rs 3,600 crore and the whole proceeds will go to the company.

There will not be any secondary offering.The cost band has actually been fixed at Rs 218-230 a share for its public issue.Investors can bid for a minimum of 65 shares and in multiples of 65 afterwards.

Retail financiers can invest a minimum of Rs 14,950 in one lot and their optimal investment can be Rs 194,350 for 13 lots.The company's shares will be noted on stock market - Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) - on February 8, 2022.

After the IPO, the promoter's shareholding in Adani Wilmar will come down from the existing 100 per cent to 87.92 per cent.Adani Wilmar's flagship brand name Fortune is the biggest selling edible oil brand in India.Adani Wilmar is a joint endeavor included in January 1999 between the Adani Group, which is a multinational varied company group with substantial interests across transportation and logistics, and energy and utility sectors, and the Wilmar Group, one of Asia's leading agri-business groups which was ranked among the largest listed companies by market capitalisation on the Singapore Exchange since February 2021.