Edible oil major Adani Wilmar is looking to acquire food brands and expand its capacities in the segment with the amount it raises through its initial public offering (IPO).
“Capacity expansions are 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, managing director and chief executive officer of Adani Wilmar, told Business Standard.
He added that a small amount of the IPO proceeds will also go towards expanding its edible oil capacity in eastern India, where its capacity utilisation is high and the market is growing fast.
This story is from the January 29, 2022 edition of Business Standard.
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This story is from the January 29, 2022 edition of Business Standard.
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