ADANI WILMAR LIMITED INITIAL PUBLIC OFFERING TO OPEN ON THURSDAY, JANUARY 27, 2022 Price Band fixed at Rs. 218 to Rs 230 per equity share of face value of Rs. 1 each (“Equity Shares”)

• 

• 

Srikant Kanhere CFO and Angshu Mallick MD of Adani Wilmar management

·      A discount of Rs. 21 per equity share is being offered to eligible employees bidding in the employee reservation portion

·      Floor price is 218 times the face value of the equity shares and the cap price is 230 times the face value of the equity shares

·      Bid /Issue Opening Date – Thursday, January 27, 2022 and Bid/Issue Closing Date – Monday, January 31, 2022

Mumbai, January 21, 2022 (GNI): Adani Wilmar Limited (the “Company”) shall open its Bid / Offer in relation to its initial public offering on Thursday, January 27, 2022 (“Issue”).

The Price Band of the Issue has been fixed at Rs. 218 to Rs. 230 per equity share of face value of Rs. 1 each (“Equity Shares”). Bids can be made for a minimum of 65 Equity Shares and in multiples of 65 Equity Shares thereafter.

The Issue comprises of a fresh issue of Equity Shares aggregating up to Rs. 36,000 million by the Company, of which Equity Shares aggregating up to Rs. 1,070 million will be available for allocation to certain eligible employees (The “Employee Reservation Portion”) in the manner described in the RHP and Equity Shares aggregating up to Rs. 3,600 million will be available for allocation to certain eligible shareholders of the promoter of the Company, Adani Enterprises Limited (“AEL” and such portion of the Issue, the “Shareholder Reservation Portion”). The Issue less the Employee Reservation Portion and the Shareholder Reservation Portion is the net Issue (“Net Issue”). A discount of Rs. 21 per Equity Share is being offered to eligible employees bidding in the Employee Reservation Portion and such discount should be considered as part of the red herring prospectus dated January 19, 2022 (“RHP”) and should be read in conjunction with the RHP.

The Issue is being made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) read with Regulation 31 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 as amended (“SEBI ICDR Regulations”) and in compliance with Regulation 6(1) of the SEBI ICDR Regulations, wherein not more than 50% of the Net Issue shall be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”, the “QIB Portion”), provided that Company may, in consultation with the Managers, allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion.

Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Issue Price. Further, not less than 15% of the Net Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Issue shall be available for allocation to RIBs in accordance with the SEBI ICDR Regulations, subject to valid bids being received at or above the Issue Price. All potential Bidders (except Anchor Investors) are required to mandatorily utilise the Application Supported by Blocked Amount (“ASBA”) process providing details of Issue respective ASBA accounts, and UPI ID in case of RIBs using the UPI Mechanism, if applicable, in which the corresponding Bid Amounts will be blocked by the SCSBs or under the UPI Mechanism, as the case may be, to the extent of respective Bid Amounts. Anchor Investors are not permitted to participate in the Issue through the ASBA process.

For details, see “Issue Procedure” beginning on page 362 of the RHP.

The Equity Shares offered through the RHP are proposed to be listed on BSE and NSE.

All capitalised terms referred to in this press release that have not been defined shall have the same meaning as prescribed in the RHP. The RHP shall be available on the website of SEBI at www.sebi.gov.in, websites of the Stock Exchanges i.e. BSE and NSE at www.bseindia.com and www.nseindia.com, respectively and is available on the websites of the BRLMs, i.e. Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited, BofA Securities India Limited, Credit Suisse Securities (India) Private Limited, ICICI Securities Limited, HDFC Bank Limited and BNP Paribas at https://investmentbank.kotak.com, www.jpmipl.com, www.ml-india.com and https://www.credit-suisse.com/in/en/investment-banking-apac/investment-banking-in-india/ipo.html, www.icicisecurities.com, www.hdfcbank.com and www.bnpparibas.co.in, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, please see the section entitled “Risk Factors” on page 21 of the RHP.ends