Adani Wilmar IPO: The IPO of the seventh company of Adani Group is going to open next week.
Adani Wilmar IPO: The price band of the IPO of Adani Wilmar Limited (AWL), a giant company that sells many food products including edible oil under the name of Fortune brand, has been fixed. Investors will be able to invest in the price band of Rs 218-230 per share under this IPO of Rs 3600 crore. This IPO will be open for subscription from January 27-31. This IPO will open for anchor investors on January 25. Earlier the company was preparing to bring an IPO of Rs 4500 crore but now its size has been reduced to Rs 3600 crore.
After the listing, it will become the seventh company of the Adani Group to be listed in the domestic market. At present, six companies of the Adani Group are Adani Enterprises, Adani Transmission, Adani Green Energy, Adani Power, Adani Total Gas and Adani Ports and Special Economic. Zones (Adani Ports and Special Economic Zone) are listed.
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Adani Wilmar IPO Details
- Under Adani Wilmar’s Rs 3600 crore IPO, only new shares will be issued i.e. there will be no sale of shares under Offer for Sale (OFS).
- This IPO will be open for subscription from January 27-31.
- The price band has been fixed at Rs 218-230 per share.
- The lot size is 65 shares i.e. according to the upper price of the price band, investors will have to invest at least Rs 14,950.
- The face value per share is Rs.
- The employees of the company will get a discount of Rs 21.
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- 50 per cent of the issue has been reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors (NIIs) and 35 per cent for retail investors.
- The allotment of shares can be finalized on 3 February and listing is fixed on 8 February.
- The Running Lead Managers for the issue are ICICI Securities, HDFC Bank, BNP Paribas, Kotak Mahindra Capital, Jaypee Capital, BofA Securities and Credit Suisse.
- The money raised through the new shares will be used for capital expenditure, debt servicing and acquisitions and investments.
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Details about the company
- Adani Wilmar is a joint venture between Ahmedabad-based Adani Group and Singapore-based Wilmar Group, in which both groups hold half-half.
- It is an FMCG food company that sells cooking items like cooking oil, wheat flour, rice, pulses and sugar. Apart from this, Oleochemicals also sells industrial products like castor oil and its derivatives and de-oiled cakes.
- Veteran food FMCG company Adani Wilmar plans to aggressively strengthen its position in the food space. The company may acquire companies in the Foods, Staples and Value Added Product categories.
- The company operates plants in 10 states of the country and has 10 crushing units and 19 refineries. Apart from this, according to the data available till 30 September 2021, the company is using 36 tolling units on lease to increase the manufacturing capacity.
- According to the company’s data for the September 2021 quarter, the company has 88 depots across the country, which is spread over 18 lakh square feet.
- Talking about the company’s financials, its net profit (Profit After Tax) was Rs 460.87 crore in the financial year 2020, which increased to Rs 727.65 crore in the next financial year 2021.
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