Adani Wilmar Shares To Debut On BSE, NSE Today: Here's The GMP

New Delhi: Adani Wilmar shares are all set to debut on stock exchanges like Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on Tuesday.

Adani Group and Singapore-based Wilmar Group hold a 50:50 percent stake in Adani Wilmar. Interestingly, this is the second IPO of 2022 after AGS Transact Technologies.

The IPO of the company was opened for bidding from January 27 to January 31, and subscribed more than 17 times the shares on offer.

According to data from exchange, the company has attracted bids for 212.9 crore shares as against the 12.3 crore shares on offer, a subscription of 17.4 times. The portions reserved for qualified institutional buyers (QIBs) and non-institutional investors (NIIs) were subscribed 5.7 times and 56.3 times respectively.

The quota meant for retail investors was booked 3.9 times.

According to market observers, Adani Wilmar IPO Grey Market Premium (GMP) today is Rs 30.

Coming to IPO, the issue price for the Adani Wilmar IPO was Rs 218-230, while the valuation of the company has been estimated at Rs 26287 crore.

The company had reduced the size of its IPO to Rs 3,600 crore, from Rs 4,500 crore earlier.

Adani Wilmar plans to become India's largest food company by 2027. According to the DRHP, the company will pay off its debt from the funds raised through the IPO. Apart from this, the company will use this money for strategic acquisition and investment.

If we look at the performance of the company, the consolidated total income of the company was Rs 24957 crore in the September 2021 quarter. In the September 2020 quarter, this amount was Rs 16273 crore. The company's net profit stood at Rs 357 crore in the September quarter as against Rs 288 crore a year ago. The total debt on the company is 9191 crores.

The company that manufactures edible oil fortune Adani Wilmar is a big name in the edible oil segment. Adani Wilmar manufactures edible oil brand Fortune.

In the edible oil segment, the brand competes with Nature Fresh, Gemini, Sweekar, Marico's Saffola, Agrotech's Sundrop, Mother Dairy's Dhara, and Emami Group, Patanjali's products.

Also read: Semiconductor Shortage: Passenger Vehicle Retail Sales Drop 10 Percent In January: FADA

Also watch: