Adani Wilmar IPO subscribed 1.13 times on the second day of offering

The initial public offering of edible oil major Adani Wilmar Limited received 1.13 times subscription on the second day of offering on Friday. The IPO received bids for 138,577,270 shares against 122,546,150 shares on offer, according to an update on BSE. 

The category for Retail Individual Investors (RIIs) was subscribed 1.85 times, while non-institutional investors received 88 per cent subscription and Qualified Institutional Buyers (QIBs) 39 per cent. 

The IPO of up to Rs 3,600 crore is 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.