Adani Wilmar IPO: Adani Wilmar IPO (Initial Public Offering) after 3 days of subscription closing, Public Issue Price 3,600 crore has been subscribed 17.37 times while its retail segment has been subscribed 3.92 times. This strong subscription was also reflected in the gray market sentiment. According to market observers, the share price of Adani Wilmar managed to bounce back today after falling for nearly a week in the gray market. He added that the change in market sentiment has also played a major role in boosting the morale of the gray market regarding the Adani Wilmar IPO.
Adani Wilmar IPO GMP
Market observers said the Adani Wilmar Gray Market Premium (GMP) is today 30, which is 12 more than yesterday’s gray market premium 18. He said that today’s increase in Adani Wilmar IPO GMP can be attributed to two major reasons – trend reversal ahead of Union Budget 2022 and strong subscription position. He said that the secondary market sentiment has been negative for almost two weeks, due to which Adani Wilmar’s IPO GMP has come down. near 65 In about a week 18. However, he added that Adani Wilmar’s shares may regain their lost ground if the market manages to rally after presenting the budget.
What does this GMP mean?
Market observers said the GMP is nothing but an unofficial data which gives an indication about the listing premium that one can expect from a particular public issue. Adani Wilmar’s IPO Is Today as GMP 30, means gray market is expecting Adani Wilmar IPO listing 260 ( 230+ 30), which is about 13 percent higher than its price band 218 to 230 per equity share.
However, stock market experts said that GMP is not an ideal indicator of listing premium as it has nothing to do with the financial position of the company. He said that the balance sheet of the company should be looked at as it gives a clear picture of the fundamentals of the company.
Throwing light on the core principles of Adani Wilmar; Anuj Jain – Research Head, Co-Founder – Green Portfolio Pvt Ltd said, “The company commands 18.3 per cent market share in edible oil. Selling less than 1 at Macap and issue price of around 36 pe, Adani Wilmar Ltd. Is a clear buy with suggestions to hold it for the long term. As the food and industry essentials business grows (where AWL has ambitious plans), PE re-rating is imminent.”
Abhay Doshi, Founder, UnlistedArena.com said, “Adani Wilmar is one of the few big FMCG food companies. Their flagship brand “Fortune” is the largest selling edible oil brand in India. This is addressed by focusing on diversifying revenue streams. Adani Wilmar’s distribution network is the largest in the edible oil segment.”
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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