IPO update: Adani Wilmar IPO price band announced as issue opens next week
On Thursday, January 27, the three-day initial public offering (IPO) of edible oil manufacturer Adani Wilmar Ltd will begin. For its 3,600-crore initial share offer, which will end on January 31, the business has set a price range of 218-230 per share. The anchor investor auction will begin on January 25.
There will be no secondary offering for the public offering, which will consist of a new issue of equity shares. The company has reduced the size of its initial public offering (IPO) from $4,500 crore to $3,600 crore.
According to market experts, Adani Wilmar shares are currently commanding a premium (GMP) of 75 in the grey market. On February 8, 2022, the company’s shares are planned to be listed on the BSE and NSE stock exchanges.
Under the Fortune brand, Adani Wilmar, a 50:50 joint venture between Gautam Adani’s conglomerate Adani group and Singapore’s Wilmar business, sells cooking oils. Soya bean, sunflower, mustard, and rice bran are among the edible oils offered by Adani Wilmar. In India, its Fortune brand of oil has a market share of roughly 20%.
Adani Wilmar will become the eighth Adani group firm to list on Indian stock exchanges if the IPO is successful. The bourses currently list Adani Transmission, Adani Green Energy, Adani Power, Adani Total Gas, and Adani Ports.
AWL, which has revenues of 37,195 crore and is one of India’s major food FMCG firms, plans to actively pursue M&A (merger and acquisition) opportunities in the food sector. The company may buy a brand or a company that specializes in foods, staples, or value-added products.
The issue’s book running lead managers are ICICI Securities, HDFC Bank, BNP Paribas, Kotak Mahindra Capital, JP Morgan, BofA Securities, and Credit Suisse. The IPO’s registrant is Link Intime India Private Ltd.