Adani Wilmar Listing on BSE, NSE Today: Adani Wilmar Share Details
Adani Wilmer IPO: Shares of Adani Wilmer are set to make their debut on D-Street. It will be listed on both the BSE and NSE stock exchanges on Tuesday. The equity shares of Adani Wilmar Ltd. will be listed and accepted on BSE and NSE, effective Tuesday, February 8, 2022, as per BSE instructions. Adani Wilmer's share price has risen in the gray market before the stock listing. Adani Wilmer IPO bid for 212.9 crore shares, 12.3 crore shares were on offer, 17.4 times subscription, according to exchange data. Reserves for Eligible Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) subscribed 5.7 times and 56.3 times, respectively. The quota for retail investors was 3.9 times.
The company also offers a variety of industry essentials, including personal hygiene products, soaps, handwashes and sanitizers and oleochemicals, castor oil and its derivatives, and de-oiled cakes. About 23 per cent of the total expenditure on food and groceries (Rs 39.45 lakh crore) is spent on essential kitchen items, creating an opportunity of Rs 9 lakh crore for any player in the essential kitchen commodity segment. All brokerages gave Adani Wilmer's first public issue a 'membership' rating, citing reasonable valuation.
Adani Wilmer IPO: GMP
Experts said the company had paid a gray market premium (GMP) of Rs 30 before listing on the BSE and NSE, which was Rs 50 during the IPO. This means that this public figure will be around Rs. 260 (Rs.230 + Rs.30) J Rs. Is expected to be listed above. 218 to Rs. The 230 costs about 15 percent more than the band. The Gray Market is an unofficial market for unlisted people. Securities However, secondary market experts say that GMP is not an ideal indicator for expected listed profits as it has nothing to do with the company's balance sheet.
Adani Wilmer IPO: What do experts expect before the listing?
According to stock market experts, the fundamentals of Adani Wilmar Ltd are very strong and its brands are readily available at FMCG retail outlets. He said Adani Wilmer's shares could be expected to make a "reasonable" debut and a listed premium of up to 15 per cent. He said Adani Wilmer's shares could open at around Rs 250 to Rs 260 per equity share. “Considering the GMP, we can expect a profit of around 10-15 per cent. Manoj Dalmiya, Founder and Director, Praveen Equities Ltd., said that the issue price is fully in line with Adani's brand name and the company's growth potential.
“The outlook for the FMCG sector looks very promising this year. From a fundamental standpoint, Adani Wilmar is doing well. However, market sentiment is not promising at the moment, so Adani Wilmer will offer 5-10 per cent listing profit to its customers, ”said Ravi Singh, head and vice president of research at ShareIndia.
Adani Wilmer IPO valuation
Commenting on the valuation of Adani Wilmer IPO, Amarjit Maurya, AVP - Mid Caps, Angel One Ltd. Said, which is worth considering AWL's historic top-line and bottom-line CAGR of 13 percent and 39 percent, respectively, in FY19. -21. Further, Adani Wilmer has strong brand recall, wide distribution, excellent financial track record and healthy ROE. Considering all the positive factors, we believe that this assessment is reasonable. "
The money from the public issue will be used for capital expenditure, debt reduction and acquisitions as the company seeks to become the largest food and FMCG company in India. According to the Red Herring Prospectus (RHP), the company has proposed to use ? 1,900 crore for capital expenditure, ? 1,058.9 crore for debt repayment and ? 450 crore for strategic acquisition and investment funds. Founded in 1999, Adani Wilmar is an FMCG food company that supplies most of the essentials in the kitchen, including edible oil, flour, rice, cereals and sugar. The company sells cooking oil under the Fortune brand. In addition to cooking oil, it sells items such as rice, wheat flour and sugar. It also sells non-food products such as soaps, handwashes and sanitizers. Adani Wilmar is the seventh Adani Group company to be listed on the Indian Stock Exchange.