Adani Wilmar IPO opens Jan 27: Here’s worth band, lot measurement and extra
Adani Wilmar IPO: The Rs 3,600 crore preliminary public providing (IPO) of edible oil producer Adani Wilmar will open on Thursday, January 27, 2022, and will probably be obtainable for subscription until Monday, January 31, 2022. The worth band of the IPO has been mounted at Rs 218-230 per share of the face worth of Re 1 every.
Adani Wilmar sells numerous cooking oils and different edible merchandise corresponding to wheat flour, soya merchandise, basmati rice and so forth. underneath the Fortune model, has minimize its IPO measurement to Rs 3,600 crore from Rs 4,500 crore deliberate earlier. It is a 50:50 three way partnership firm between Gautam Adani-led Adani group and Singapore’s Wilmar group.
The IPO solely contains recent subject of fairness shares and there won’t be any secondary providing. The proceeds from the provide will probably be used for capital expenditure, reimbursement/prepayment of debt, funding strategic acquisitions and investments and basic company functions.
Adani Wilmar is among the many main meals fast-moving shopper items (FMCG) firms within the nation with revenues of Rs 37,196 crore in monetary yr 2020-21 (FY21). It intends to develop its geographical presence within the edible oil sector and broaden the meals staples enterprise, FMCG and in addition worth added meals merchandise.
“we may pursue acquisitions in the edible oil and food industry to strengthen our presence in the southern regions where regional companies are strong. We intend to consolidate market share through acquisitions of regional players,” the corporate wrote in its purple herring prospectus (RHP).
Investors who want to subscribe to Adani Wilmar’s IPO can bid within the lot of 65 fairness shares and multiples thereof. At the higher worth band, they must shell out Rs 14,950 to get a single lot of Adani Wilmar. The shares will probably be listed on each BSE and the National Stock Exchange (NSE).
Half of the problem measurement has been reserved for certified institutional consumers (QIBs), 35 per cent for the retail buyers and the remaining 15 per cent is for non-institutional buyers.
Ahead of the general public provide, the anchor buyers’ portion will probably be obtainable on Tuesday, January 25, 2021.
Upon its itemizing, Adani Wilmar will turn out to be the seventh Adani group firm to debut on the inventory market. Currently, six Adani group firms are listed on the home exchanges – Adani Enterprises, Adani Transmission, Adani Green Energy, Adani Power, Adani Total Gas, and Adani Ports and Special Economic Zone.
Kotak Mahindra Capital Company, J.P. Morgan India, BofA Securities India, Credit Suisse Securities (India), ICICI Securities, HDFC Bank and BNP Paribas are the guide operating lead managers to the IPO whereas Link Intime India is the registrar of the problem.
Apart from this, the share allotment is more likely to happen on February 3, 2022, and the shares are anticipated to be listed on February 8, 2022, in line with the timeline given within the RHP.