Adani Wilmar initial public offering (IPO) will finalise share allotment status on Thursday, February 3. Adani Wilmar IPO saw more than 17 times subscription. The issue saw applications for 2,12,87,80,550 shares against the total issue size of 12,25,46,150 shares, translating into an oversubscription of 17.37 times. Retail investors subscribed Adani Wilmar IPO 3.92 times their part of allotted shares. Non-institutional investors sought Adani Wilmar IPO 56 times more shares than the 2.15 crore shares reserved for them. Qualified institutional investors put in bids for Adani Wilmar IPO for 5.73 times of the portion reserved for them.
Incorporated in 1999, Adani Wilmar is an FMCG food company offering most of the essential kitchen commodities, including edible oil, flour, rice, pulses, and sugar. The company sells cooking oils under the Fortune brand. Apart from cooking oils, it sells food products like rice, wheat flour, and sugar. It also sells non-food products like soap, handwash, and sanitisers. It is a 50:50 joint venture between business conglomerate Adani group and Singapore-based Wilmar. Last week, Adani Wilmar Ltd had raised Rs 940 crore from anchor investors.
Adani Wilmar IPO GMP
As per market observers, Adani Wilmar shares are commanding a premium (GMP) of Rs 32 in the grey market today. The company’s shares are expected to list on leading stock exchanges BSE and NSE on February 8, 2022.
Adani Wilmar IPO Share Allotment on Thursday
The finalisation of basis of share allotment of Adani Wilmar IPO is expected to on Thursday and if allotted, then the credit of shares to demat account of bidders will be done on February 7. The registrar for this Adani Wilmar IPO is Link Intime India Private Ltd, therefore the allotment application can be checked on its website here or on the BSE website here.
Adani Wilmar IPO: What Brokerages Say
Last week’s stock market rout, especially in the broader market, has eroded Adani Wilmar IPO’s grey market premium (GMP). “The bearish sentiments, especially in the broader market, coupled with tepid listing of recent market debutants have shaken faith of investors in the primary market. The GMP of Adani Wilmar has declined about 50 per cent in a week and we expect a listing premium of around 10-15 per cent,” said Manan Doshi, co-founder, Unlisted Arena.
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According to analysts at KR Choksey, Adani Wilmar Limited’s focus on growth of FMCG and packaged food business and shift to value-added products will result in increasing market share and expansion of margins. “With the Indian economy recovering strongly from the Covid-19 impact and expected to grow faster to become a $5 trillion economy, places AWL in a sweet spot to grow multifold. Hence, we recommend ‘SUBSCRIBE’ for long-term gains,” they said in a report.
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