Adani Wilmar Initial Public Offering | Following the completion of the allotment process, reimbursements will be reimbursed to the bank accounts of failed investors by January 4, and equity shares will be sent to qualifying investors’ Demat accounts by February 7.
The finalization of the share allotment in the Adani-Wilmar public offering is likely to occur soon.
What is the grey market premium for the Adani Wilmar initial public offering (IPO)?
Adani Wilmar’s shares are now trading at Rs 32 per share on the grey market as of Wednesday. By February 8, the business expects to get its shares listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
It should be noted that the Adani Wilmar IPO consisted solely of newly issued equity shares; the section reserved for retail investors received 392 per cent of the total subscription, while the area reserved for non-institutional investors received 5,600 per cent of the complete subscription; there were 2.15 crore shares reserved for them.
Meanwhile, qualified institutional investors placed bids for 573 per cent of the share of the auction set aside just for them. Adani Wilmar has said that the revenues from the initial public offering (IPO) will support capital expenditure, debt reduction, and acquisitions.
Adani Wilmar, founded in 1999, is a multinational fast-moving consumer goods (FMCG) company that specializes in kitchen staples such as edible oil, flour, rice, lentils, and sugar. Adani Wilmar is headquartered in Mumbai, India. The Fortune brand is used for marketing the company’s cooking oils, and it also sells rice, wheat flour, and sugar, among other things, under its label. In addition to food goods, the firm sells non-food items such as soap, handwash, and hand sanitiser.
Concerning the Public Issue
The FMCG food giant has collected Rs 3,600 crore through its public offering, a completely new issue for the company. It plans to use the Rs 3,471.48 crore in net proceeds from the offering for the expansion of existing production facilities, the development of new manufacturing facilities, the repayment of debts, and the financing of strategic acquisitions and investments.
During January 27-31, 2022, the offer received a resounding reaction from investors, with subscriptions totalling 17.37 times.
Adani Wilmar’s extensive inventory includes food commodities such as edible oil, wheat flour, rice, lentils, and sugar. Food oil, packaged food and fast-moving consumer goods (FMCG), and industry basics are among the products in the company’s range.
Suppose you are an investor who has applied for a stake in the joint venture between Adani Group and Wilmar Group (Singapore). In that case, you may check the progress of your application either on the BSE website or on the website of the initial public offering registrant, Link Intime India.
Participants must complete the following three simple procedures on the website of the IPO registrar:
a) Select the firm name ‘Adani Wilmar Limited’ from the drop-down menu.
b) Select and input the appropriate information for either ‘PAN’, ‘Application Number’, or ‘DP Client ID’.
c) Finally, click on the search option to find out the current status.
The status of an allotment may be verified on the BSE website in the following ways:
a) Select the ‘equity’ issue type and the ‘Adani Wilmar Limited’ issue name from the drop-down menu.
b)”Application number” and “PAN number” must be entered.
c) Select the box that says “I’m not a robot,” and then click on the “search” button to find out the status of your application.
Following the completion of the allotment process, reimbursements will be sent to the bank accounts of failed investors by January 4, and the qualifying investors will get equity shares in their Demat accounts by February 7, according to the company.
According to a press release, equity shares will begin trading on the BSE and NSE on February 8.
edited and proofread by nikita sharma
