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SEBI gives nod to Adani Wilmar IPO: Sources

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If the share sale materialises, Adani Wilmar will become the seventh company from the Adani Group to list its shares on stock exchanges.

Adani Enterprises shares were in focus on Monday after sources told CNBC-TV18 that capital market regulator SEBI had approved Adani Wilmar's proposal to float an initial public offer (IPO). Adani Wilmar is a 50-50 JV between Adani Enterprises and Wilmar International. If the share sale materialises, Adani Wilmar will become the seventh company from the Adani Group to list its shares on stock exchanges.
The draft red herring prospectus has been cleared after observations, the sources said. Last month, SEBI had put the Adani Wilmar DRHP under abeyance without stating the reason behind the move.
The development assumes significance for Adani Enterprises, which holds a stake of about 50 percent in Adani Wilmar. Adani Enterprises' stake in Adani Wilmar could be valued at about Rs 18,750-22,500 crore.
Adani Wilmar IPO will be a completely fresh issue of shares, which means that Adani Enterprises will not be selling any of its holding through this IPO.
CNBC-TV18 wrote to Adani Enterprises asking about the size of the IPO but received no response from the company.
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