Adani Wilmar’s IPO has received a sluggish response from investors so far. Till the second day of the issue i.e. January 28 at 2:45 pm, it has not been subscribed even 100%.
Adani Wilmar IPO Subscription Status: The IPO of Adani Wilmar, the company of Andani Grun, which makes edible oil and other food products, has received a sluggish response from investors. Till the second day of the issue i.e. January 28 at 2:45 pm, it has not been subscribed even 100%. One can invest in Adani Wilmar’s IPO till January 31. This is the second IPO of the year 2022 and the company plans to raise Rs 3600 crore through its IPO. The company has fixed the price band for this at Rs 218-230 per share.
which part is full
Adani Wilmar has reserved 50 per cent stake in the IPO for Qualified Institutional Investors (QIBs). This part is filled 0.30 times so far. At the same time, there is a reserve of 15 percent for non-institutional investors and this part has been filled 0.78 times so far. 35 per cent has been reserved for retail investors and it has been filled 1.6 times so far. The reserve part for employees is 0.13 times and for others the reserve part is filled 0.19 times. Overall this issue is subscribed 0.89 times.
About the IPO
In Adani Wilmar’s IPO, fresh equity shares of Rs 3600 crore will be issued at a face value of Re 1. There will be no Offer for Sale (OFS) in this issue. Earlier the company had kept the size of the IPO at Rs 4500 crore, however later it was reduced to Rs 3600 crore. The company has reserved shares worth Rs 107 crore for its employees. They will get a discount of Rs 21 per share in the bidding.
where the funds will be spent
According to DRHP, the company will spend Rs 1900 crore as capital expenditure. It will spend Rs 1059 crore on debt payments, while it will make strategic acquisitions with Rs 450 crore. Kotak Mahindra Capital, JP Morgan India, BofA Securities India, Credit Suisse Securities (India), ICICI Securities, HDFC Bank and BNP Paribas will be the Book Running Lead Managers for the issue.
investment advice
Swastika Investmart Ltd. Senior Analyst of K Ayush Aggarwal has given investment advice in the stock. He says that the track record of the company’s revenue has been excellent. It has established itself well in the FMCG sector. The company occupies a leading position in edible oil and packaged food. The valuation of IPO is looking good. It can be subscribed both in terms of listing gain and long term.
Brokerage House Choice Broking recommends to subscribe. The brokerage says that the company has a strong market position in the case of edible oil and other food products. The company has a leading position in the market in Raw Material Sourcing. Manufacturing capacity is strong. Valuation looks better than Pierce,
(Disclaimer: The investment advice here is given by the brokerage house. This is not the personal view of The Financial Express. There are risks in the market, so consult an expert before investing.)
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