Adani Wilmar garnered Rs 940 crore from anchor investors, allocating 4.09 crore equity shares at Rs 230 per equity share — the upper price band of the offer, the company said on Tuesday.
The edible oil maker’s Rs 3,600 crore IPO will open for subscription on January 27 and the offer will close for subscription on January 31. Prior to filing the final documents with the market regulator, the company had trimmed its IPO size from Rs 4,500 crore earlier to Rs 3,600 crore, waiving off Rs 900 crore planned for general corporate purposes.
The government of Singapore was the top bidder in the anchor book, picking up shares worth Rs 368 crore or 39% of the anchor book. Societe Generale, Monetary Authority of Singapore, HDFC Mutual Fund, Aditya Birla Sun Life Mutual Fund, Nippon India Mutual Fund, and Jupiter India Fund were among other top investors that participated in the anchor book.
The IPO proceeds will be used for capital expenditure, debt repayment, and funding acquisitions and investments. Currently, six Adani group companies are listed on domestic bourses. Apart from Adani Enterprises, other listed ones are Adani Transmission, Adani Green Energy, Adani Power, Adani Total Gas, and Adani Ports and Special Economic Zone.
(With inputs from PTI)