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SANDEEP KUMAR | Jan 21, 2022 | Views 409364

Adani Wilmar IPO to Open Next Week, Check Out the Details

Adani Wilmar IPO to Open Next Week, Check Out the Details

In the next week, another IPO is lined up to open for subscription in the primary market. Following in the footsteps of AGS Transact Technologies, the much-anticipated IPO of Adani Wilmar is set to open for public subscription on January 27.

Adani Wilmar:

Adani Wilmar, founded in 1999 as a joint venture between the Adani Group and the Wilmar Group, is an FMCG food company that provides most of the essential kitchen commodities for Indian consumers, such as edible oil, wheat flour, rice, pulses, and sugar. In addition, the company provides a wide range of industry essentials such as oleochemicals, castor oil and its derivatives, and de-oiled cakes. The company’s products are available under a variety of brands and at a variety of price points, catering to a wide range of customer groups.

The company operates 22 plants in India, spread across 10 states, with 10 crushing units and 19 refineries. With a capacity of 5,000 MT per day, the company’s refinery in Mundra is one of the largest single-location refineries in India. Adani Wilmar used 36 leased tolling units for additional manufacturing capacity as of September 31, 2021, in addition to the 22 plants.

Adani Wilmar will join six other companies owned by Gautam Adani that are already listed on stock exchanges. Adani Enterprises, Adani Transmission, Adani Green Energy, Adani Power, Adani Total Gas, and Adani Ports and Special Economic Zone are among these.

When:

The three-day initial public offering (IPO) will begin next week on Thursday, January 27. The company has set a price range of 218-230 rupees per share for its 3,600-crore initial share sale, which will end on January 31. Anchor investor bidding will begin on January 25.

  • Offer for sale: ₹ 3600 crore.
  • Price band: Rs 218-230 per equity share.
  • Face value: Rs 1 apiece.
  • Lot size: 65 shares and multiples
  • Listing: NSE and BSE.
  • Listing Date: Feb 8, 2022
  • Lead managers:

ICICI Securities, HDFC Bank, BNP Paribas, Kotak Mahindra Capital, JP Morgan, BofA Securities and Credit Suisse are the book running lead managers to the public issue.

  • Promoters:

Adani Enterprises Limited, Adani Commodities LLP and Lence Pte. Ltd are the company promoters.

Objectives of the IPO:

The company aims to utilize the funds for following purpose:

  • Funding capital expenditure for expansion of existing manufacturing facilities and developing new manufacturing facilities (“Capital Expenditure”);
  • Repayment/prepayment of borrowings;
  • Funding strategic acquisitions and investments; and
  • Meet general corporate purposes.

Summary of Financial Information:

Particulars Total Assets

(₹ in Millions)

Total revenue

(₹ in Millions)

Profit after Tax

(₹ in Millions)

31 Mar-2020 117,859.17 297,669.86 4608.72
31 Mar-2021 133,266.39 371,956.58 7276.49
31 Sep-2021 179,237.07 249,572.86 3571.33

With revenue of Rs 37,195 crore in the previous fiscal year, the company reported a net profit of Rs 727 crore, an increase from the Rs 460 crore reported by Adani Wilmar in the fiscal year ending March 2020.

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