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Adani Wilmar IPO price band announced as issue opens next week. GMP, other details:
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On Thursday, benchmark stock indices Sensex and Nifty plunged by over 1 per cent. (PTI)
Investors’ wealth has eroded by over ₹6,80,441 crore in three days of market fall amid weak global trends and domestic sentiments. Extending losses for the third day, Sensex on Thursday finished below 60,000, weighed by selling in IT, energy and finance stocks
Shares of companies like Reliance Industries, SBI Life Insurance, HDFC Life Insurance, Bandhan Bank, CSB Bank, JSW Steel, Elixir Capital, California Software, Gland Pharma, Hindustan Zinc, IDBI Bank, Gokaldas Exports, Heritage Foods, Inox Leisure, Vodafone Idea, Kajaria Ceramics, L&T Finance Holdings, Jyothy Labs, Oriental Aromatics, Pioneer Distilleries, Max Ventures and Industries, Polycab India, PVR, Ramco Industries, PNB Gilts, RattanIndia Power, Share India Securities, Supriya Lifescience, Supreme Petrochem, Tanla Platforms, Vinyl Chemicals, and Wendt (India) will be in focus as they announce their December quarter earnings today
Adani Wilmar IPO price band announced as issue opens next week. GMP, other details
Adani Wilmar IPO will open for public subscription next week on Thursday January 27 and conclude on January 31
The three-day initial public offering (IPO) of edible oil major Adani Wilmar Ltd will open next week on Thursday, January 27. The company has fixed a price band of ₹218-230 a share for its ₹3,600-crore initial share sale that will conclude on January 31. The bidding for anchor investors will start on January 25.
The public issue comprises fresh issue of equity shares and there will not be any secondary offering. The company has cut its IPO size to ₹3,600 crore from ₹4,500 crore as planned earlier.
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As per market observers, shares of Adani Wilmar are commanding a premium (GMP) of ₹75 in the grey market today. The company’s shares are expected to list on stock exchanges BSE and NSE on February 8, 2022.
Adani Wilmar, a 50:50 joint venture company between Gautam Adani-led congolomerate Adani group and Singapore’s Wilmar group, sells cooking oils under the Fortune brand. Adani Wilmar has the largest range of edible oils comprising soya bean, sunflower, mustard, and rice bran. Its Fortune brand of oil has around 20% market share in India.
A successful IPO will make Adani Wilmar the seventh Adani group company to list on the Indian stock exchanges.
AWL, which is among the leading food FMCG companies in India with revenues of ₹37,195 crore, plans to aggressively look at M&A (merger and acquisition) prospects in the foods space. The company may acquire a brand or a company engaged in 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 Ltd is the registrar of the IPO.
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