IPO Update: Adani Wilmar IPO Shares Highest Price Ever

Adani Wilmar’s stock price today tested 500 levels for the first time since its initial public offering on February 8, 2022, and touched a new all-time high of $504.65 per share on the NSE. Adani Wilmar shares doubled the money of its lucky allottees in roughly 2 months of investing as the issue price of Adani Wilmar IPO was between 218 and 230 per equity share. AWL shares had already achieved a new high on March 25, 2022, and this newly listed Adani stock did the same on Monday.

According to stock market experts, Adani Wilmar share price is surging due to two major reasons — Ruchi Soya FPO injecting fresh impetus in the edible oil segment of the FMCG market and palm oil prices appreciating to the tune of 14 per cent giving margin benefit to Adani Wilmar’s unsold inventory. They said that palm oil prices are expected to remain on the higher side leading to sharp upside after every time there is profit-booking. Hence, the company is expected to continue reaping margin benefits in upcoming quarters. From technical perspective, indicators like RSI, MACD, Oscillators and MAS are supporting the bull run on daily basis.

About Adani Wilmar 

Adani Wilmar is an FMCG food company that was founded in 1999 as a joint venture between the Adani Group and the Wilmar Group. It offers most of the important kitchen commodities for Indian consumers, including edible oil, wheat flour, rice, pulses, and sugar. In addition to oleochemicals, castor oil and its derivatives, and de-oiled cakes, the company supplies a wide range of industry needs. The company’s products are sold under a variety of brand names and range in price to appeal to a wide range of customers.

The company’s product line is divided into three categories: edible oil, packaged food and FMCG, and industry basics. The company’s flagship brand, “Fortune,” is the most popular edible oil in India. The company has recently shifted its attention to value-added products and has

In line with this, edible oil products, rice bran health oil, fortified foods, ready-to-cook soya chunks, khichdi, and other items were launched. As of March 31, 2021, the company has significant raw material sourcing capabilities and was India’s largest importer of crude edible oil.

The company owns and runs 22 factories in India, including 10 crusher units and 19 refineries, spread across ten states. With a capacity of 5,000 MT per day, the company’s refinery at Mundra is one of India’s largest single-location refineries. In addition to the 22 plants, Adani Wilmar used 36 leased tolling units for extra manufacturing capacity as of September 30, 2021.

Over 1.6 million people are served by the company’s distributors in 28 states and 8 union territories in India.