Recently, India’s market regulator – SEBI has given a go-ahead to two more IPOs. The capital market regulator approved the upcoming IPOs of Star Health Insurance and Adani Wilmar.
Adani Wilmar filed its draft prospectus to propose the initial public offering back in August. However, as per reports, it was put on hold by SEBI in September.
But with SEBI’s approval, Adani Wilmar’s IPO plans are now back on track.
Adani Wilmar is an equal joint venture between Wilmar International Ltd. and Adani Enterprises Ltd. Adani Enterprises is the parent company of Fortune Edible Oil, owned by Adani Group.
Wilmar International Ltd. is a Singapore-based investment holding and food processing company. It is one of the leaders in Asia’s agribusiness industry and has over 300 subsidiary companies.
With this upcoming IPO, Adani Wilmar will be the seventh company from the Adani Group to go for a public listing.
Star Health Insurance and Allied Insurance Co Ltd is an Indian insurance company. Founded in 2006, it has been providing health insurance and overseas travel insurance ever since.
Star Health Insurance filed its draft prospectus with SEBI back in July 2021 for its initial public offering.
With SEBI’s nod, these companies can now proceed with their initial public offering proposals.
As per CNBC TV-18, Adani Wilmar is expecting to raise Rs. 4,500 crores by issuing fresh equity shares. This IPO will place the valuation of Adani Wilmar at somewhere between Rs. 37,500 crores and Rs. 45,000 crores.
On the other hand, Star Health Insurance’s IPO size is expected to be around Rs. 5,500 crores. They wish to raise Rs. 2,000 crores by issuing fresh equity shares. The rest will comprise an offer for (OFS) sale of 60 million shares.
The PAT margin of Adani Wilmar Ltd. is 1.76%.
The face value of Adani Wilmar is yet to be disclosed.
As of writing, Star Health Insurance has not announced the opening and closing dates for their IPO.
We're Live on WhatsApp! Join our channel for market insights & updates
Enjoy ₹0 Account Opening Charges
Join our 2 Cr+ happy customers
Get the link to download the App
