Adani Wilmar IPO Subscribed 17.37 Times On Day 3

Get the latest subscription updates from day 3 of the Adani Wilmar IPO here.

<div class="paragraphs"><p>Adani Wilmar products, including its flagship ‘Fortune’ edible oil brand. (Photo: BloombergQuint)</p></div>
Adani Wilmar products, including its flagship ‘Fortune’ edible oil brand. (Photo: BloombergQuint)

Investor interest in the initial public offering of Adani Wilmar Ltd., a consumer goods joint venture between Adani Group and Wilmar Group, picked up pace on the third day.

The IPO was subscribed 1.13 times on the second day and 57% on day one.

The firm is selling shares at Rs 218-230 apiece in its three-day offer—a fresh issue of Rs 3,600 crore. It has scaled down the offer size from Rs 4,500 crore, at the time of filing the draft red herring prospectus.

At the upper-end price of Rs 230, Adani Wilmar is seeking a market value of Rs 29,887.8 crore. It is offering 12% equity of the post-offer equity share capital. The promoters will hold 88% at the end of the IPO.

The company plans to utilise Rs 1,900 crore from the IPO for expansion of existing manufacturing facilities and developing new units. It will use Rs 1,058.9 crore for repayment/prepayment of borrowing, and Rs 450 crore for funding strategic acquisitions and investments.

Adani Wilmar IPO: All You Need To Know

Subscription Details: Day 3

The IPO was subscribed 17.37 times as of 5 p.m. on Jan. 31.

  • Institutional investors: 5.73 times.

  • Non-institutional investors: 56.30 times.

  • Retail investors: 3.92 times.

  • Employees: 0.51 times.

  • Shareholders: 33.33 times.

Watch BloombergQuint's IPO Adda With Adani Wilmar Management: