CGS-CIMB Research analysts Ivy Ng Lee Fang and Nagulan Ravi have kept their “add” call for Wilmar International and target price of $6.15 unchanged in a research note dated August 23.
The rating and target price reiteration comes after the company announced that market regulator Securities and Exchange Board of India (SEBI) listed the status of the draft offer document relating to the proposed IPO of Adani Wilmar as “issuance of observation kept in abeyance”. The abeyance could last for a period of 30 days or 45 days or 90 days or more.
