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Shares of Wilmar's food joint venture climb in Mumbai debut

9 February 2022 | By The Business Times

ADANI Wilmar, an Indian food company, surged in its stock trading debut following a US$482 million initial public offering (IPO), the country's largest in 2 months.

Shares of the company, an equal joint venture between the business group controlled by Asia's richest person, Gautam Adani, and Singapore's Wilmar International, rose 16.6 per cent to 268.25 rupees on Tuesday (Feb 8). The stock was priced at 230 rupees in the IPO, at the top of a marketed range.