Adani Wilmar IPO: Subscription status, GMP signals and more; everything you need to know

Adani Wilmar’s initial public offering (IPO) bagged a strong investor response on the second day of the bidding process and was fully subscribed. Monday, 31 January is the last bidding day for the Adani Wilmar IPO which is a complete fresh issue of equity shares of Rs 3,600 crore. It also has no existing promoters or shareholders who will be selling any shares. 

The initial public offering (IPO) of Adani Wilmar was subscribed 74 per cent on Friday, as of 12:30 pm. The IPO was subscribed 57 per cent on the first day of subscription on Thursday, as of 5 pm. The FMCG giant, which has set a price band of Rs 218-Rs 230, will remain close for subscription today. 

What is the present subscription status?

On day 2, the Adani Wilmar issue was subscribed 1.13%, and over 13,85,77,200 applications for shares were seen against the total issue size of 12,25,46,150 shares. It is to note that the company has reserved equity shares aggregating to Rs 107 crore for eligible employees, who will also get at least Rs 21 per share during the bidding process.

Other details

• IPO date: January 27-January 31
• The price band of Adani Wilmar IPO: Rs 218-Rs 230 per share
• Lot size: The investor can bid for a minimum of 65 equity shares and in multiples thereafter
• IPO size: Rs 3,600 crore
• Adani Wilmar IPO share allotment date: Likely on February 3
• Adani Wilmar IPO listing date: Likely February 8 on BSE and NSE

Should you subscribe?

Hem Securities had published its report on Adani Wilmar and the research firm had recommended to “subscribe” the IPO. In the report dated 25 January, Hem Securities had said that Adani Wilmar, “has differentiated and diversified product portfolio with market-leading brands. Also, the company is one of India’s leading consumer product companies with leadership in edible oil and packaged food business along with strong raw material sourcing capabilities & integrated business model with well-established operational infrastructure and strong manufacturing capabilities.” Even analysts at Ventura Securities gave “subscribe” rating on Adani Wilmar IPO with a 24-month price target of Rs 468.8 per share.

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