ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Web Stories
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Real Estate
    • Home Buyers
    • Builders
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • IPL 2023
    • Karnataka Elections 2023
    • Viral
    • Education
    • Jobs
Read in App
Business News » Markets News

BIG setback to Adani Wilmar IPO: Rs 4,500-cr share sale in 'abeyance'; Adani Group says THIS about communication from SEBI

Adani Group IPO: Without disclosing the reason, Sebi said "issuance of observations kept in abeyance" with regard to the Adani Wilmar IPO, according to an update in the SEBI website as on August 13. 

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
BIG setback to Adani Wilmar IPO: Rs 4,500-cr share sale in 'abeyance'; Adani Group says THIS about communication from SEBI
The company had filed preliminary papers with Sebi on August 3, to raise funds through an initial public offering (IPO).

Capital markets regulator Sebi has kept the proposed Rs 4,500-crore initial share-sale of edible oil major Adani Wilmar Ltd (AWL) in "abeyance". 

See Zee Business Live TV Streaming Below:

However, the Securities and Exchange Board of India (Sebi) did not clarify further. 

The company had filed preliminary papers with Sebi on August 3, to raise funds through an initial public offering (IPO). 

Without disclosing the reason, Sebi said "issuance of observations kept in abeyance" with regard to the Adani Wilmar IPO, according to an update in the SEBI website as on August 13. 

In market parlance, observations of Sebi is a kind of go-ahead to float a public issue. 

In a statement on Saturday, Adani Group spokesperson said, "we have not received any formal communication from Sebi with respect to the IPO observations being kept in abeyance". 

"While we have always been fully compliant with applicable Sebi Regulations, we have made full disclosure to Sebi on specific information requests from them in the past. We will continue to cooperate with the regulators in the future as well," the spokesperson added. 

The proposed listing of AWL on the stock exchanges will comprise an IPO in the form of fresh issue of new equity shares by AWL for an amount of up to Rs 4,500 crore (approximately USD 600 million). 

There will not be any secondary offering, Adani Enterprises Ltd (AEL), the flagship firm of Adani group, had said in a regulatory filing. 

The company, which sells cooking oils under the Fortune brand, is a major player in the edible oil industry. 

Proceeds from the IPO are proposed to be used by AWL to fund capital expenditure for expansion of existing manufacturing facilities. The funds will also be utilised for developing new manufacturing facilities, repayment/ prepayment of borrowings, to fund strategic acquisitions and investments, and general corporate purposes. 

AWL is a 50:50 joint venture company between the Adani group and the Wilmar group. 

Currently, six Adani group companies are listed on domestic bourses. Apart from AEL, other listed ones are Adani Transmission, Adani Green Energy, Adani Power, Adani Total Gas, and Adani Ports and Special Economic Zone. 

 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
AdaniAdani GroupIPOs
Reported By: IANS
Written By: ZeeBiz WebTeam
Updated: Sat, Aug 21, 2021
03:59 pm
Patna, ZeeBiz WebDesk
RELATED NEWS
Adani-Hindenburg Saga: No evident pattern of manipulative contribution to price rise, says SC-appointed panel Adani-Hindenburg Saga: No evident pattern of manipulative contribution to price rise, says SC-appointed panel
Adani-Hindenburg Saga: Sebi probe into Adani drew blank, says SC-appointed panel Adani-Hindenburg Saga: Sebi probe into Adani drew blank, says SC-appointed panel
Adani-Hindenburg Saga: SC-appointed committee says retail exposure in Adani Group increased after Hindenburg report Adani-Hindenburg Saga: SC-appointed committee says retail exposure in Adani Group increased after Hindenburg report
Adani-Hindenburg Saga: 'No regulatory failure', says committee headed by ex-SC judge Adani-Hindenburg Saga: 'No regulatory failure', says committee headed by ex-SC judge
Adani-Hindenburg crisis: Supreme Court adjourns hearing Adani-Hindenburg crisis: Supreme Court adjourns hearing

LATEST NEWS

PM Kisan Yojana 14th installment to be released soon: Check beneficiary status

Torrent Pharma dividend: Drug maker's board recommends 160% payout

Campus Activewear sinks below listing price as Street worried about margin

Ukraine war comes to Moscow as drones strike both capitals

CAG GC Murmu re-elected as external auditor at WHO for another 4-year term

RBI Annual Report 2022-23: Number of frauds in banking sector rose in FY23, amount involved halved to Rs 30,252 crore

Myntra's EORS-18 goes live on June 1, offering 20 lakh styles across over 6,000 brands

IRCTC reports over 30% rise in Q4 profit; board announces 100% dividend

No heat wave at Delhi's primary weather station for first time since 2014, IMD officials say

Lux Industries releases Q4 result, declares 250% final dividend; check details

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. Indiadotcom Digital Private Limited. All Rights Reserved.
LIVE TV