Adani Wilmar Sees 68% Subscription on Day 2 IPO

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Adani Wilmar Sees 68% Subscription on Day 2 IPO
29 Jan 2022
5 min read

News Synopsis

Adani Wilmar, known for the popular edible oil brand, Fortune, launched its IPO on January 27. The IPO of the company is subscribed to 68% by the morning of January 28. Bids came in for 8.28 crore equity shares against the offered size of 12.25 crore units of Rs 3,600 crore issue. The IPO will be closed on January 31. 

The subscribed percentage consists of qualified institutional and non-institutional investors who subscribed 30% and 60% respectively. The fresh issue of the company will be utilised for the expansion of manufacturing facilities, development of new units, repayment of debts, and strategic acquisitions and investments.

The price band for the IPO will be fixed at Rs 218-230 per share. Adani Wilmar is one of the large FMCG companies of India that offer most of the primary kitchen commodities like edible oil, wheat flour, rice, pulses, and sugar.

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