Adani Wilmar’s IPO noticed 17 instances extra demand than the provide. The difficulty attracted bids for two.1 billion shares, valued at over Rs 48,000 crore. The Certified Institutional Purchaser (QIB) portion of the IPO was subscribed 5.73 instances, Excessive Internet Value People (HNIs) 56 instances and Retail practically 4 instances. The shareholder class noticed 33 instances subscription, whereas worker quota remained undersubscribed at 51 per cent.
Adani Wilmar, a three way partnership between the Adani Group and the Wilmar Group, is India’s main producer of edible oils beneath the Fortune model. Other than oil, the corporate affords merchandise comparable to wheat flour, rice, pulses, sugar and packaged meals.
The Adani Group agency has fastened a value band of Rs 218-230 per share for the IPO. On the top-end, the corporate has a market cap of round Rs 30,000 crore. Adani Wilmar raised Rs 3,600 crore in recent capital by IPO.
“Taking a look at final 12 months (September 21) earnings of Rs 6.12 per share on a publish challenge foundation, the corporate goes to be listed at a P/E of 37.6 instances. Its counterparts, Nestle and Britannia Industries, are buying and selling at PEs of 81.6x and 54.7x respectively,” stated a be aware by Marwari Shares.
For the yr 2020-21, the corporate had reported a web revenue of Rs 728 crore on income of Rs 3,790 crore.