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Adani Wilmar IPO on Day 3, Subscribed 1.32 Times

By January 31st morning, the last day of the bid, the first public offering (IPO) of Adani Wilmar, a joint project between Adani Group with Singapore’s Wilmar Group, had been subscribed 3.23 times, with submissions for 39.59 crore equity shares vs an offer amount of 12.25 crore units.

Accredited institutional investors bid roughly 1.87 times the amount set aside for them. QIB is critical to a public problem because their portion must receive at least 90 percent of the subscription.

Retail investors continue to be the most active, subscribing 2.9 times their fraction of allowed shares, whilst non-institutional investors subscribed 8.18 times.

Adani Wilmar also has set aside a portion of the IPO shares for its employees and stockholders, with 38 percent with 1.09 times subscriptions, respectively.

What is Adani Wilmar?

Adani Wilmar is a fast-moving consumer goods (FMCG) food company founded in 1999. It carries a wide range of necessary kitchen items, such as lentils, edible oil, rice, flour, and sugar.

On the final day of the bid on Monday, the Adani Wilmar Limited (AWL) initial public offering (IPO) continued to entice investors, receiving 1.32 times bids.

Gautam Adani’s Adani Group with Singapore’s Wilmar group has formed a 50:50 partnership called Adani Wilmar. So under Fortune brand, it provides cooking oils plus a few other items.

Adani Wilmar allocation

As per a circular posted on the BSE portal, Adani Wilmar distributed 4.09 lakh shareholdings to support investors for Rs 230 each, for a total transaction value of Rs 940 crore.

Anchor investors include the Government of Singapore, Nippon India MF, Monetary Authority of Singapore, Jupiter India Fund, Societe Generale, HDFC Mutual Fund (MF), and Aditya Birla Sun Life MF.

With top business brands, AWL has a distinctive and broad product portfolio. According to brokerage company Hem Securities, this is one of India’s biggest consumer product corporations, having leadership in the edible oil and packaged food industries.

It stated that with a ‘subscribe’ rating, the company has a broad pan-India network infrastructure with an emphasis on environmental and social sustainability and a solid parentage with skilled management and an accomplished board.

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