Fortune oil parent Adani Wilmar to open IPO on Jan 27

If your kitchen oil bill has burn a hole in your budget here is an option to earn some of it back from the company itself. Adani's FMCG food company Adani Wilmar the owner of he popular Fortune Oil brand is planning to go public soon as its initial public offering (IPO) will open on January 27.

Incorporated in 1999, Adani Wilmar is a joint venture between Adani Group and the Wilmar Group. The company offers essential kitchen commodities for Indian consumers including edible oil, wheat flour, rice, pulses, and sugar.

Adani Wilmar sells its products under the famous brand name Fortune, which is one of the prominent brands in edible oil. Edible oil prices have been surging high for the past one year reaching near the highest level in 10 years. The government has recently cut the import duties in a bid to control the prices which have jumped nearly 65% in one year.

The IPO will open for subscription on January 27 and will close on 31st. The issue size will be Rs 3,600 crore, while other details like the price band are yet to be declared.

Retail investors are looking forward to another offering from the Adani pack after the handsome returns on the other listed companies. Shares of Adani Enterprises are up 260% in the last one year. Similarly, Adani Green is up 88%, Adani Power 111% and Adani Gas is up 400%.