Adani Wilmar’s Mega IPO Launch Date Announced, Will Raise Rs 3600 Crore: Expected Price Band, Last Date & More

2021 saw an IPO frenzy at the Indian Stock Market. And the same frenzy is about to continue in 2022 as well. More than 25 companies have got approval from the market regulators to go public in 2022. And, more than 30 companies are yet to get their approvals. In the upcoming week, Adani Wilmar Ltd will also be making its debut on the stock market.

Adani Wilmar Ltd prepares for the stock market debut

Next week on Thursday, January 27, the three-day initial public offering (IPO) of edible oil major Adani Wilmar Ltd will open. As of now, the company has fixed a price band of ?218-230 a share for its ?3,600-crore initial share sale that will conclude on January 31. The bidding for anchor investors will start on January 25.

It should be noted that the public issue comprises a fresh issue of equity shares and there will not be any secondary offering. The company has reduced its IPO size to ?3,600 crores from ?4,500 crores as planned earlier.

According to sources, shares of Adani Wilmar are commanding a premium (GMP) of ?75 in the grey market today. The shares of Adani Wilmar are expected to list on stock exchanges BSE and NSE on February 8, 2022. 

Adani Wilmar’s Fortune Oil had a 20% market share in India

Adani Wilmar is a 50:50 joint venture company between Gautam Adani-led conglomerate Adani Group and Singapore’s Wilmar group. The company sells cooking oils under the Fortune brand. It has the largest range of edible oils comprising soya bean, sunflower, mustard, and rice bran. Its Fortune brand of oil has around 20% market share in India.

Once launched on the share market, Adani Wilmar will become the seventh Adani group company to list on the Indian stock exchanges. Currently, Adani Transmission, Adani Green Energy, Adani Power, Adani Total Gas, and Adani Ports are listed on the bourses.

The company has revenues of ?37,195 crores and is planning to aggressively look at M&A (merger and acquisition) prospects in the foods space. The company might take over a brand or a company engaged in foods, staples, and value-added product categories.

Will this stock fulfill the wishes of investors? Only time will tell.

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