FMCG food company Adani Wilmar made a subdued debut on February 8 with the stock listing at a 4 percent discount to the issue price before revving up seven percent.
The stock opened at Rs 221 on the BSE and Rs 227 on the National Stock Exchange against an issue price of Rs 230.
The Rs 3,600-crore public issue had seen good response from investors as it was subscribed 17.37 times during January 27-31, 2022. The portion set aside for non-institutional investors and shareholders were subscribed 56.30 times and 33.33 times respectively, while the allotted quota of retail investors and qualified institutional buyers booked 3.92 times and 5.73 times respectively.
Incorporated in 1999, as a joint venture between the Adani Group and the Wilmar Group, Adani Wilmar offers a wide array of packaged foods, including edible oil, wheat flour, rice, pulses, besan, soya chunks, ready-to-cook khichdi and sugar, under a diverse range of brands to cater to various price points, including "Fortune", the flagship brand, which is the largest selling oil brand in India.