Adani Wilmar IPO: What GMP reflects as all eyes set in share listing date
Premium- Adani Wilmar IPO GMP today is ₹28, which is ₹2 lower from its yesterday's grey market premium of ₹30
Adani Wilmar IPO: After allocation of shares, all eyes are now set on Adani Wilmar IPO listing date, which is most likely on 8th February 2022. The public issue worth ₹3600 crore got subscribed 17.37 times whereas it retail portion was subscribed 3.92 times. According to market observers, shares of Adani Wilmar are available at a premium of ₹28 in the grey market today.
Adani Wilmar IPO GMP
Market observers said that Adani Wilmar IPO GMP today is ₹28, which is ₹2 lower from its yesterday's grey market premium of ₹30. They said that after the trend reversal in secondary market in this week Adani Wilmar IPO GMP had improved and it had surged up to ₹35 but in last two week's selloff, grey market sentiment once again witnessed a trend reversal in regard to Adani Wilmar IPO. However, they maintained that the stock is likely to be listed on Tuesday and in case of trend reversal at stock market on Monday, there can be some spike in the Adani Wilmar share price in grey market.
What this GMP mean
Market observers maintained that grey market premium is an unofficial data that reflect listing premium that one can expect from a public offer. As Adani Wilmar IPO GMP today is ₹28, it means grey market is expecting that Adani Wilmar shares would list at around ₹258 ( ₹230 + ₹28), which is around 13 per cent higher from its price band of ₹218 to ₹230 per equity share.
However, secondary market experts said that GMP is not an ideal indicator about the expected listing fain as it has nothing to do with the balance sheet of the company.
Speaking on the fundamentals in regard to Adani Wilmar IPO; Aprajita Saxena, Research Analyst at Trustline Securities said, "Adani Wilmar enjoys a leadership position in branded edible oil and packaged food business. It has strong brand recall and broad customer reach coupled with a diversified products portfolio and market leading brands. It is largest oleochemical manufacturers in India with Pan India network and robust distribution infrastructure. Demographic change, increase in e-commerce reach, increasing household consumption and supportive government policies are the strong tailwinds of the company."
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Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint.
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