Last day to subscribe to Adani Wilmar’s IPO; GMP at ₹40 per share

• FMCG company Adani Wilmar IPO is a fresh issue of equity shares of ₹3,600 crore and no existing promoters or shareholders will be selling any shares.
• The IPO has been subscribed 1.19 times in the first two days of subscription process.
• Shares of the company are commanding a premium of ₹40 in the grey market.

Today, January 31, is the last day to subscribe to fast moving consumer goods (FMCG) company Adani Wilmar’s – known for edible oil brand Fortune – initial public offering (IPO).

In the first two days of the subscription process, the IPO received a tepid response from investors as it was oversubscribed by 1.19 times.

The IPO is a complete fresh issue of equity shares of ₹3,600 crore and no existing promoters or shareholders will be selling any shares.

Shares of the company are commanding a premium of ₹40 in the grey market.

Category of investors	Subscription status
Qualified institutional buyers	0.42 times
Non institutional investors	0.93 times
Retail	1.95 times
Overall	1.19 times

Adani Wilmar is a joint venture between Adani Group and Singapore-based Wilmar, which was formed in 1999. It sells cooking oils under the Fortune brand as well as various other food products like rice and sugar.

If you’re looking to invest in the IPO, here is what analysts are suggesting to IPO investors. Considering the company’s strong footing in edible oil business, wide distribution and future prospects, analysts recommend subscribing to the IPO.

“Adani Wilmar has strong brand recall, wide distribution, better financial track record and healthy returns on equity (ROE). Considering all the positive factors, we believe this valuation is at reasonable levels. Thus, we recommend a subscribe rating on the issue,” said Amarjeet Maurya of Angel One.

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