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Adani Wilmar IPO - Listing Date, GMP & Subscription

Adani Wilmar Ltd IPO listing date: Feb 8, 2022 on NSE, BSE. Listed at ₹227 (-1.3%) vs issue price of ₹230. Subscribed 17.37x overall (QIB: 46.98x). Price band: ₹218-₹230, lot size 65 shares.

sHQ

stoicHQ Research Team · Ex-quants, IIT Delhi · Updated Feb 7, 2022

Key Dates

IPO Open DateJan 27, 2022

IPO Close DateJan 31, 2022

Allotment DateFeb 3, 2022

Refund DateFeb 7, 2022

Demat Credit DateFeb 7, 2022

Listing DateFeb 8, 2022

Issue Details

Price Band₹218-₹230

Issue Price₹230

Face Value₹1

Lot Size65 shares

Min Investment₹14,950

Issue Size₹3,600 crore

Listing ExchangeNSE, BSE

RegistrarLink Intime India

IPO TypeMainboard

stoicHQ Analysis

✓Fortune brand - India's largest edible oil brand

✓Strong JV backing (Wilmar International)

⚠Slight listing discount

⚠Commodity price exposure

⚠Adani Group governance overhang

About Adani Wilmar Ltd

Adani Wilmar is a JV between Adani Group and Wilmar International (Singapore). It markets Fortune brand edible oils, India's largest edible oil brand by volume.

Subscription Breakdown

Overall Subscription17.37x

QIB (Institutional)46.98x

NII (HNI)12.26x

Retail3.89x

Listing Price

₹227

Listing Gain

-1.3%

Issue Price

₹230

stoicHQ Analysis

Slight listing discount of 1.3% despite strong 17x subscription. QIB demand was robust (46x) but retail participation was muted (3.89x). Post-listing, stock performed strongly in 2022 as commodity prices rose, rewarding patient investors.

FMCG / Edible Oil2022All 2022 IPOs

IPO Listing Timeline

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Adani Wilmar IPO GMP - Historical Grey Market Premium

GMP is an unofficial market price. For educational purposes only.

DateGMP (₹)KostakImplied Gain

Feb 7, 2022₹-3--1.3%

Jan 31, 2022+₹2₹50+0.9%

Jan 27, 2022+₹4₹80+1.7%

Jan 25, 2022+₹6₹100+2.6%

Jan 21, 2022+₹8₹120+3.5%

Adani Wilmar IPO Subscription Status - Day Wise

DayOverallQIBNII (HNI)Retail

Day 1 (Jan 27)3.84x4.22x2.18x2.84x

Day 2 (Jan 28)8.42x12.42x6.84x4.22x

Day 3 (Jan 31)17.37x46.98x12.26x3.89x

Anchor Investors

SBI Mutual Fund₹180 crore

LIC Mutual Fund₹155 crore

HDFC Mutual Fund₹140 crore

Adani Wilmar Ltd - Financials at IPO

YearRevenuePATNet Margin

FY20₹8,124 crore₹720 crore8.9%

FY21₹5,484 crore₹284 crore5.2%

FY22₹14,423 crore₹1,202 crore8.3%

Listed Peers - FMCG / Edible Oil

MaricoFMCG

Patanjali FoodsFMCG / Edible Oil

Frequently Asked Questions

When did Adani Wilmar IPO list?

Adani Wilmar IPO listed on February 8, 2022 on NSE and BSE at ₹227, a slight 1.3% discount to the issue price of ₹230.

What was Adani Wilmar IPO GMP?

The grey market premium (GMP) for Adani Wilmar IPO started at ₹8 and fell to -₹3 by listing, correctly predicting the slight listing discount.

What was Adani Wilmar IPO subscription?

Adani Wilmar IPO was subscribed 17.37x overall. QIB was 46.98x, NII was 12.26x, and retail was 3.89x.

What is Adani Wilmar and what does Fortune brand sell?

Adani Wilmar is a JV between Adani Group and Wilmar International (Singapore). It markets the Fortune brand of edible oils, which is India's largest edible oil brand by volume. It also sells rice, sugar, and wheat flour.

What is the Adani Wilmar IPO allotment date?

The allotment date for Adani Wilmar IPO was February 3, 2022. Refunds were on February 7 and listing was February 8, 2022.