The issue saw applications for 2,12,87,80,550 shares against the total issue size of 12,25,46,150 shares, translating into an oversubscription of 17.37 times.
The quota for retail bidders was subscribed 3.92 times, whereas the HNI portion was subscribed about 56.30 times. The QIB portion fetched 5.73 per cent bids, while the employee portion was subscribed 51 per cent on final day.
The company has reserved equity shares aggregating to Rs 107 crore for its eligible employees who will get a discount of Rs 21 per share during the bidding process.
Adani Wilmar allocated 4.09 crore equity shares to anchor investors at Rs 230 apiece, aggregating the transaction size to Rs 940 crore, according to a circular uploaded on the BSE website.
Government of Singapore, Monetary Authority of Singapore, Societe Generale, Jupiter India Fund, HDFC Mutual Fund (MF), Nippon India MF and Aditya Birla Sun Life MF are among the anchor investors.
Adani Wilmar has allocated 4.09 crore equity shares to anchor investors at Rs 230 apiece, aggregating the transaction size to Rs 940 crore, according to a circular uploaded on the BSE website.
Government of Singapore, Monetary Authority of Singapore, Societe Generale, Jupiter India Fund, HDFC Mutual Fund (MF), Nippon India MF and Aditya Birla Sun Life MF are among anchor investors.
The company is selling its shares in the price range of Rs 218-230 apiece. Investors can bid for a minimum of 65 equity shares and in multiples thereof.
Majority of the brokerages are positive on the issue and have suggested investors to bid for the IPO citing its reasonable valuations, growth plans for the future, robust product line, sound balance sheet and strong parentage.
Adani Wilmar is a 50:50 joint venture between Gautam Adani’s Adani group and Singapore-based Wilmar group. It sells cooking oils and some other products under the Fortune brand.
AWL has differentiated and diversified product portfolio with market leading brands. It is one of India’s leading consumer product companies with leadership in edible oil and packaged food business, said brokerage firm Hem Securities.
Company has an extensive pan-India distribution network with focus on environmental and social sustainability and strong parentage with professional management and experienced board, it added with a ‘subscribe’ rating.
