Adani Wilmar IPO subscribed 17.4 times on heavy HNI, shareholder interest

The firm has set price band at Rs 218-230 per share. At the top-end, the company's market cap works out to nearly Rs 30,000 crore

Adani Wilmar’s IPO saw over 17 times more demand than shares on offer. The issue garnered bids for 2.1 billion shares, worth over Rs 48,000 crore. The qualified institutional buyer (QIB) portion of the IPO was subscribed 5.73 times, high networth individual (HNI) 56 times and retail nearly 4 times. The shareholder category saw 33 times subscription, while employee quota remained undersubscribed at 51 per cent.

Adani Wilmar, a joint venture between the Adani group and Wilmar group, is India’s leading manufacturer of edible oil under the Fortune brand. Besides oil, the company offers products like wheat flour, rice, pulses,