Adani Wilmar's India IPO could boost Wilmar's share price, earnings: analysts
Of the IPO proceeds, some 19 billion rupees will be used for capital expenditure, while another 5 billion rupees has been set aside for strategic acquisitions
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WILMAR International could enjoy a lift in terms of share price and earnings as its 50 per cent-owned joint venture Adani Wilmar heads for an initial public offering (IPO) on the Indian markets to raise money for expansion.
Adani Wilmar, which is one of the few large fast-moving consumer goods companies in India, intends to raise up to 45 billion rupees (S$821.4 million) in a dual listing on both the Bombay Stock Exchange and National Stock Exchange of India.
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