The edible oil major Adani Wilmar’s Rs 3,600 crore IPO was oversubscribed by 18 times on the last day of the bidding, data available on exchanges showed. The maiden public offer of the company opened for subscription on January 27 and the company had fixed the price band of the issue at Rs 218 to Rs 230 per equity share.
On closing of the issue, the portion set aside for qualified institutional buyers was subscribed more than 6 times, HNI more than 59 times, while the retail portion was booked more than four times, showed data.
Strong demand for the IPO is the basis of the company’s future growth potential and sustained growth in the previous years, with leadership in the edible oil market. The company further plans to expand its product portfolio by introducing more staples and other products, the management of the company said in a media conference earlier.
