Financial Insights

Adani Wilmar launches its IPO

Adani Wilmar, another company in the Adani Group, has launched its IPO. The IPO opened for subscription on 27/1/22 and will end on 31/1/22. The company’s promoters are Adani Enterprises Ltd., Adani Commodities LLP and Lence PTE Ltd. The company is offering 12% equity of post offer equity capital and the promoters will hold 88%.

Adani Wilmar is a Joint Venture between the Adani group and the Wilmar Group. Its portfolio has 3 main categories: edible oil, packaged food and FMCG & industry essentials. It has 22 plants in India and has the largest distribution network among all the branded edible oil companies in India.

The IPO is worth Rs 3,600 crores and all the proceeds will go to the company. Rs 1,900 crores shall be used or capital expenditure, Rs 1058.9 crores for repayment/prepayment of borrowings and the balance shall be used for strategic acquisitions. Its share price shall range between Rs 218-230, each lot containing 65 shares. Of the shares offered, 50% is for QIBs, 15% for HNIs and the balance for RIIs. The shares will be listed on the exchanges on 8/2/22.

The company’s net profit for a period of 6 months ended on 30th September 2021 was Rs 357.13 crores after a revenue of Rs 24,874.51 crores. It has an EBITDA margin of 3.2% & RoE of 10%.

Highlight by Aman Agarwal.

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