Billionaire Gautam Adani's food venture is best performing Asia IPO

By Anonymous -

Credit: Jugadu Investor

India's Adani Wilmar Ltd. is an outlier among Asia's newly listed stocks. The food company has almost tripled since its debut while most new comers are trading under water.


Shares in the firm, a joint venture between the group controlled by Asia's richest person Gautam Adani and Singapore's Wilmar International Ltd., have outperformed 121 Asian initial public offerings worth over $100 million this year. Almost two-thirds of the region's new listings are in the red as rising interest rates and the war in Ukraine take a toll.


The Monetary Authority of Singapore and Nippon Life India were among investors in Adani Wilmar's IPO, which makes Fortune brand cooking oils, wheat flour, rice, pulses, sugar and other food products. The firm said it would use part of the funds in the $486 million offering to expand facilities, repay loans and make strategic acquisitions.


About Company


Adani Wilmar, an equal joint venture between Adani Enterprises and Wilmar International, is among the largest FMCG companies in India. The company is known for its wide range of offerings in edible oils comprising soya bean, sunflower, mustard and rice bran, among others under its well established "Fortune" brand.


The company has 22 plants in India, which are strategically located across 10 states, comprising 10 crushing units and 19 refineries.


The company is a leader in the edible oil segment and commands the highest market share of ~18.3% through its Fortune & other brands.


Apart from the oil segment, it also offers products like wheat flour, rice, pulses & sugar under its different brands across a broad price spectrum.


Product Portfolio

(i) edible oil

(ii) packaged food and FMCG

(iii) industry essentials with further subcategories in the above three categories

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