Adani Wilmar's IPO will open for public subscription next week on Thursday, January 27 and end on January 31.
Edible oil major Adani Wilmar Ltd's three-day initial public offering (IPO) will open next week on Thursday, January 27. The company has fixed a price band of Rs 218-230 per share for its initial share sale of Rs 3,600 crore. Which will end on 31st January. Bidding for anchor investors will start from January 27.
The public issue involves fresh issue of equity shares and there will be no secondary offering. The company has reduced the size of its IPO from ₹4,500 crore to ₹3,600 crore as per earlier plan.
According to market observers, the shares of Adani Wilmar are commanding a premium (GMP) of ₹100 in the grey market today.The company's shares are expected to be listed on the stock exchanges BSE and NSE on February 8, 2022.
Adani Wilmar, a 50:50 joint venture company between the Gautam Adani-led conglomerate Adani Group and Singapore's Wilmar Group, sells cooking oils under the Fortune brand. Adani Wilmar has the largest range of edible oils including Soyabean, Sunflower, Mustard and Rice Bran. Its Fortune brand of oil has a market share of about 20% in India.
A successful IPO would make Adani Wilmar the seventh company in the Adani Group to be listed on the Indian stock exchanges. Currently, Adani Transmission, Adani Green Energy, Adani Power, Adani Total Gas and Adani Ports are listed on the exchanges.
AWL, which is one of the leading food FMCG companies in India with a revenue of ₹37,195 crore, is planning to aggressively look at M&A (Mergers and Acquisitions) possibilities in the food sector. The company may acquire a brand or company engaged in the foods, staples and value-added product categories.
ICICI Securities, HDFC Bank, BNP Paribas, Kotak Mahindra Capital, JP Morgan, BofA Securities and Credit Suisse are the book running lead managers to the issue. Link Intime India Private Limited is the registrar of the IPO.
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