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Adani Wilmar Limited IPO Detail

Adani Wilmar Limited IPO Detail

Incorporated in 1999 as a joint venture between Adani Group and the Wilmar Group, Adani Wilmar is an FMCG food company offering most of the essential kitchen commodities for Indian consumers, including edible oil, wheat flour, rice, pulses, and sugar. The company also offers a diverse range of industry essentials, including oleochemicals, castor oil and its derivatives, and de-oiled cakes. The company's products are offered under a diverse range of brands across a broad price spectrum and cater to different customer groups.

The company's product portfolio is categorized into (i) edible oil, (ii) packaged food and FMCG, and (iii) industry essentials. "Fortune", the company's flagship brand, is the largest selling edible oil brand in India. Recently the company has focused on value-added products and has launched products such as edible oil products, rice bran health oil, fortified foods, ready-to-cook soya chunks, and khichdi, etc in line with this. The company has strong raw material sourcing capabilities and was India's largest importer of crude edible oil as of March 31, 2020.

As of the date of this Draft Red Herring Prospectus, the company operates 22 plants located across 10 states in India, comprising 10 crushing units and 18 refineries. The company's refinery in Mundra is the one of the largest single-location refineries in India with a capacity of 5,000 MT per day. In addition to the 22 plants Adani Wilmar, also used 28 leased tolling units as of March 31, 2021, for additional manufacturing capacities. The company's distributors are located in 28 states and 8 union territories throughout India, catering to over 1.6 million retail outlets.

Competitive Strengths:

  • Diversified product portfolio with leading brands catering to most daily essentials of an Indian kitchen.
  • Strong brand recall and broad customer reach.
  • Leadership in branded edible oil and packaged food business in India.
  • One of the largest basic oleochemical manufacturers of India.
  • Strong raw material sourcing capabilities from top global suppliers.
  • An integrated business model with well-established operational infrastructure and strong manufacturing capabilities.
  • Pan-India distribution network supported by a robust distribution infrastructure.
  • Focus on environmental and social sustainability.
  • Professional management and experienced board.

Company Promoters

Adani Enterprises Limited, Adani Commodities LLP and Lence Pte. Ltd

IPO Details

IPO Opening DateJan 27, 2022
IPO Closing DateJan 31, 2022
Issue TypeBook Built Issue IPO
Face Value₹1 per equity share
IPO Price ₹218 - 230 per equity share
Market Lot65 Shares
Min Order Quantity65 Shares
Listing AtBSE, NSE
Issue Size₹3,600.00 Cr
Fresh Issue-
Offer for Sale-
Employee Discount₹21
Retail Portion 35%

IPO Subscription (Bidding Detail)

Day 1 0.3x 0.54x 0.96x 0.05x 0.1x 0.57x
Day 2 0.39x 0.88x 1.84x 0.18x 0.87x 1.13x
Day 3 5.73x 56.3x 3.92x 0.51x 33.33x 17.37x

IPO Tentative Timetable

The Adani Wilmar Limited IPO open date is Jan 27, 2022, and the close date is Jan 31, 2022. The issue may list on Feb 08, 2022.

IPO Open DateJan 27, 2022
IPO Close DateJan 31, 2022
Basis of Allotment DateFeb 03, 2022
Initiation of RefundsFeb 04, 2022
Credit of Shares to Demat AccountFeb 07, 2022
IPO Listing DateFeb 08, 2022

IPO Lot Size

The Adani Wilmar Limited IPO market lot size is 65 shares. A retail-individual investor can apply for up to 13 lots (845 shares or ₹194350).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding100%
Post Issue Share Holding

Company Financials:

For the year/period ended (₹ in Crs)

Financial Year Total Assets Total Revenue Profit After Tax
31-Mar-21 13,326.64 37,195.65 727.65
31-Mar-20 11,785.91 29,766.99 460.87
31-Mar-19 11,602.87 28,919.68 375.52

Objects of the Issue:

  • Funding capital expenditure for expansion of existing manufacturing facilities and developing new manufacturing facilities (“Capital Expenditure”);
  • Repayment/prepayment of borrowings;
  • Funding strategic acquisitions and investments; and
  • General corporate purposes.

Adani Wilmar Limited IPO Registrar:

Link Intime India Private Ltd

Adani Wilmar Limited IPO Lead Manager(s):

BNP Paribas, BofA Securities India Limited, Credit Suisse Securities (India) Private Limited, HDFC Bank Limited, ICICI Securities Limited, J.P. Morgan India Private Limited, Kotak Mahindra Capital Company Limited