Adani Wilmar IPO subscribed 17.37 times on final day of offer
- Country:
- India
The initial public offer of edible oil major Adani Wilmar Limited received 17.37 times subscription on its final day on Monday.
The IPO received bids for 2,12,87,80,550 shares against 12,25,46,150 shares on offer, according to an update on BSE.
The category meant for non-institutional investors was subscribed 56.30 times, while Qualified Institutional Buyers (QIBs) received 5.73 times subscription and Retail Individual Investors (RIIs) 3.92 times.
The initial public offer of up to Rs 3,600 crore was in a price range of Rs 218-230 per share.
Adani Wilmar, which sells cooking oils and some other food products under the Fortune brand, is a 50:50 joint venture between business conglomerate Adani group and Singapore-based Wilmar.
On Tuesday, Adani Wilmar Ltd had raised Rs 940 crore from anchor investors.
The proceeds of the public issue will be used to fund capital expenditure, reduce debt and for acquisitions.
Kotak Mahindra Capital Company, J P Morgan India, BofA Securities India, Credit Suisse Securities (India), ICICI Securities, HDFC Bank and BNP Paribas were the managers to the offer.
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