Adani Wilmar IPO subscribed 51 percent on first day, retail portion booked 85 percent

AGS Transact Technologies is going to raise Rs 680 crore through its public issue which is entirely an offer for sale by selling shareholders including promoter

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26 Aug, 2025 12:21

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The initial public offering (IPO) of Adani Wilmar, a joint venture between Adani Group and Singapore-based Wilmar, received bids for 6.22 crore equity shares against IPO size of 12.25 crore equity shares, subscribing 51 percent on January 27, the first day of bidding.

This is the second IPO of 2022, after AGS Transact Technologies.

The portion set aside for retail investors was subscribed 85 percent, while the portion allocated for non-institutional investors was subscribed of 1.05 crore shares of the 2.15 crore shares allocated.

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Qualified institutional buyers (QIB) have subscribed 26 percent or 76.14 lakh share out of the 2.87 crore share allotted to them.

Adani Wilmar, which sells cooking oils under the Fortune brand and various other food products, is going to raise Rs 3,600 crore through public issue which is only a fresh issue including reservation of shares worth Rs 107 crore for employees and Rs 360 crore for shareholders of the company.

The company has already garnered Rs 940 crore through anchor book on January 25, ahead of public issue opening, at a price of Rs 230 per share.

The funds will be utilised for its capital expenditure (Rs 1,900 crore), repaying of borrowings (Rs 1,058.9 crore), and the remaining Rs 450 crore for funding strategic acquisitions & investments.

"It has had a significant growth and profitability record for the last three years. I would see this as good stock entering the FMCG sector. A price band of Rs 218-230 does not seem very expensive for the stock, given that its EPS was 64 last year," says Sonam Srivastava, Founder of Wright Research.

Also read - Adani Wilmar IPO opens – Should you subscribe?

Adani Wilmar recorded sharply higher revenue at Rs 24,874.52 crore for six months ended September 2021, increasing from Rs 16,188.58 crore in the corresponding period last fiscal. Profit jumped to Rs 357.13 crore from Rs 288.78 crore in the same period.

In the financial year 2020-21, profit surged significantly to Rs 727.65 crore from Rs 460.87 crore in FY20, and revenue during the same period rose to Rs 37,090.4 crore from Rs 29,657.04 crore.

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