Adani Wilmar IPO Subscribed 0.57 Times On Day 1
Get the latest subscription updates from day 1 of the Adani Wilmar IPO here.
Subscription in Adani Wilmar Ltd.'s IPO, a consumer goods joint venture between Adani Group and Wilmar Group, kicked off Thursday. The firm is selling shares at Rs 218-230 apiece in its three-day initial public offering.
The IPO is a fresh issue of Rs 3,600 crore. The company has scaled down the offering 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.
Subscription Details: Day 1
The IPO was subscribed 0.57 times or 57% as of 5 p.m. on Jan. 27.
Institutional investors: 0.30 times.
Non-institutional investors: 0.54 times.
Retail investors: 0.96 times.
Employees: 0.05 times.
Shareholders: 0.10 times.