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Adani Wilmar IPO Subscription picks up pace on 3rd day

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Adani Wilmar IPO Subscription picked up pace on its 3rd day. The IPO was subscribed 1.13 times on the second day and 57% on day one. 

As per reports, Investor interest in the initial public offering of Adani Wilmar Ltd., picked up pace on the third day. 

Adani Wilmar IPO Subscription 

Reportedly, Adani Wilmar, a consumer goods joint venture between Adani Group and Wilmar Group, is selling shares at Rs 218-230 apiece in its 3 day offer of a fresh issue of Rs 3,600 crore. 

Adani Wilmar IPO Subscription

It has scaled down the offer size from Rs 4,500 crore, at the time of filing the draft red herring prospectus. 

Also as per reports, At the upper-end price of Rs 230, Adani Wilmar is seeking a market value of Rs 29,887.8 crore. 

It is offering 12% equity of the post-offer equity share capital. The promoters will hold 88% at the end of the IPO. 

Plans of the company 

Further as mentioned, the firm is planning to utilise ₹1,900 cr from the IPO for expansion of existing manufacturing facilities and developing new units. 

It will use Rs 1,058.9 crore for repayment/prepayment of borrowing, and Rs 450 crore for funding strategic acquisitions and investments. 

Subscription Details 

Subscription details of third day: 

The IPO was subscribed 17.37 times as of 5 p.m. on 31st January.

 

Adani Wilmar

Reportedly, the issue saw applications for 16,23,51,475 shares against the total issue size of 12,25,46,150 shares. 

Also, Government of Singapore, Monetary Authority of Singapore, Societe Generale, Jupiter India Fund, HDFC Mutual Fund, Nippon India MF and Aditya Birla Sun Life MF are among the anchor investors.

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