look news india
Adani vs Ambani: Adani Group is now touching new heights. Then three more companies are going to join the Adani Group. Adani Wilmar, the FMCG company of Adani Group, is planning large-scale capital expenditure. The company wants to expand its business in the eastern and southern states. For this, they plan to buy at least three companies.
- Gautam Adani is preparing to make a big bet in FMCG
- Plan to buy 3 companies in eastern and southern states
- The aim of the scheme is to increase the revenue of consumer facing business
New companies looking to buy Adani
After getting rid of the Hindenburg report, the Adani Group is now progressing at a rapid pace. The Adani Group is once again engaged in expanding its business rapidly. The country's third largest industrial group has invested $ 1 billion (approximately Rs.). A war chest of 8,388 crores has been created. This claim is being made quoting sources in a report in the business newspaper Mint. The market for packaged consumer goods in the country is growing rapidly and Gautam Adani wants to take advantage of it. The group's FMCG major Adani Wilmar is preparing to buy at least three companies in the southern and eastern regions of the country. This includes ready-to-cook foods and packaged food brands.
Adani Wilmar is owned by Adani Group and Singapore's Wilmar Group. It owns the Fortune Oil and Kohinoor Rice brands. The company was recently preparing to sell stakes. But now it is rapidly spending capitalization. Adani's Aion aims to increase revenue from its consumer-facing business by 25 to 30 percent. Which includes food, MMCG, commodity and airport business. Sources say that Adani Wilmar is planning to buy many companies in the next two-three years. The group is especially eyeing the south and eastern markets. There are plans to acquire at least three companies this year and next year.
$1 billion in capital expenditure
A source said that Adani Group is planning to spend $800 million to $1 billion on FMCG business. Each of these may cost less than $20 to $25 million. Last year, Adani Wilmar's revenue was Rs. 51,261.63 crore. Currently, the company's business is in the western, central and northern states of the country. But now the company is focusing on the southern and eastern states. The company wants to increase its presence there by buying the top companies of these sectors. Adani Group is the third largest industrial group in India after Tata and Reliance.
