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Adani Wilmar revs up after a quiet debut

Adani Wilmar Listing: Adani Wilmar clocked healthy financials in previous years as per details available in the prospectus. It clocked 58 percent growth in consolidated profit in FY21 at Rs 727.65 crore and 25 percent growth in revenue at Rs 37,090.42 crore compared to previous year.

February 08, 2022 / 10:33 AM IST
Adani Wilmar | The company made its debut on the bourses on February 8. The issue price has been fixed at Rs 230 per share.

Adani Wilmar | The company made its debut on the bourses on February 8. The issue price has been fixed at Rs 230 per share.

 
 
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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.