Ahead of the launch of its IPO, FMCG company Adani Wilmar has raised Rs 940 crore from anchor investors, it was reported here on Wednesday. The company. a 50:50 joint venture between the Gautam Adani-led Adani group and Singapore’s Wilmar group, has allocated 4.09 crore equity shares to anchor investors at Rs 230 apiece, aggregating the transaction size to Rs 940 crore.

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Key anchor investors include GIC, HDFC AMC, Birla AMC, Nippon AMC, Jupiter, Societe Generale, Voirado and Cohesion MK. The company has cut its IPO size to Rs 3,600 crore from the Rs 4,500 crore planned earlier.

The IPO will open to the public on January 27 and the price band has been fixed at Rs 218-230 a share. Adani Wilmar plans to utilise the proceeds of the IPO to fund its expansion plans.

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