Initial Public Offering (IPO) from Adani Wilmar, a joint venture between the Adani Group and the Wilmar Singapore Group, subscribing 3.23 times on the morning of January 31, the last day of the offer, collecting offers for offers of 39.59 Crore against the offer of 12.25 units of Crore .
Institutional investors who meet the requirements to 1.87 times the portions provided for them. QIB is very important for public problems because their portion must get at least 90 percent subscription.
Retail investors remain at the forefront, subscribing to 2.9 times their part of the shares provided, while the portion is set aside for non-institutional investors booked 8.18 times.
Adani Wilmar has also asked for part of the IPO shares for employees and shareholders, each of which has seen a subscription of 38 percent and 1.09 times.
Intended in 1999, Adani Wilmar is a FMCG food company that offers most important kitchen commodities, including oil, flour, rice, pulses, and sugar.
The majority of their sales are significantly related to branded products counted around 73 percent of edible oil and food and FMCG sales volume for the 2021 financial year.
Maiden’s public offer aims to take the company Rs 3,600 Crore, which is entirely a new problem. The price band for offers, which opened for offers on January 27, has been repaired at Rs 218-230 per share.
“Post-issue trailing twelve months prices / income (TTM P / E) works to 37.6x (at the top of the ribbon price problem), which makes sense considering the historical topline of Wilmar and Bottomline CAGR around 13 percent and around 39 percent of each each on FY19-21, “said Amarjeet Maurya, AVP-MID Caps in Angel One.
Adani Wilmar has a strong brand memory, broad distribution, a better financial track record and healthy return on equity (ROE). “We believe this assessment is at a reasonable level. So, we recommend a subscription ranking on this problem,” he said.
