Adani Wilmar plans to buy local food brands with funds from upcoming IPO

Small part of proceeds will also go towards expanding its edible oil capacity in eastern India, where its capacity utilisation is high and the market is growing at a fast pace

Edible oil major, Adani Wilmar is looking to acquire food brands along with using the amount it raises via its initial public offering (IPO) to expand its capacities in the food segment.

“Capacity expansion is mostly going to be in the food segment, because that is where we are concentrating and that is where bulk of the IPO proceeds are being used,” Angshu Mallick, MD & CEO at Adani Wilmar, told Business Standard.

He added that a small amount of its IPO proceeds will also go towards expanding its edible oil capacity in eastern India where its capacity utilisation is