Adani Wilmar IPO: Issue subscribed 57% on Day 1 of offer

Adani Wilmar IPO is up to ₹3,600 crore and is in a price range of ₹218-230 per share (REUTERS) — Adani Wilmar IPO is up to ₹3,600 crore and is in a price range of ₹218-230 per share **(REUTERS)**

1 min read . Updated: 27 Jan 2022, 09:39 PM IST Livemint( with inputs from PTI )

Adani Wilmar IPO: The issue received bids for 7,04,43,165 shares against 12,25,46,150 on offer

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Oil major Adani Wilmar's IPO (initial public offering) was subscribed 56 per cent on the first day of the issue today. The IPO received bids for 7,04,43,165 shares against 12,25,46,150 on offer.

As per a BSE update, retail individual investors received 96 per cent subscription, while qualified institutional investors received 30 per cent subscription and non-institutional investors received 54 per cent subscription.

Edible oil major's, comprising fresh equity shares, opened for subscription today and will conclude on January 31. The price band of the three day share sale is fixed at ₹218-230 per share. On Tuesday, Adani Wilmar Ltd had raised ₹940 crore from anchor investors ahead of its initial public offering (IPO).

As per market observers, Adani Wilmar shares premium (GMP) are available at ₹44 in the grey market today. The company's shares are expected to list on stock exchanges BSE and NSE on February 8, 2022.

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On the financial front, Adani Wilmar Ltd's profit grew to ₹357 crore from ₹288.7 crore for the six months ended September in the current fiscal year whereas revenue increased to ₹24,957 crore as against ₹16,273 crore in the corresponding period of the previous year.

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