Adani Wilmar Sees Tepid Listing; Starts Trade At Rs. 227/ Share On NSE

Adani Wilmar- the 7th Adani Group company made its debut on the stock exchanges at a price of Rs. 227 per share on the NSE. While on the BSE it debuted at the price of Rs. 221 per share.

Adani Wilmar Sees Tepid Listing; Starts Trade At Rs. 227/ Share On NSE

The company opened its IPO for public subscription on January 27, 2022 to mop up Rs. 3600 crore. This was completely a fresh issuance of shares with no offer for sale.

The issue received 17 times subscription owing to dampened sentiment. As per the experts tracking price of shares in the unlisted market, the GMP for the issue was 11% higher over the issue price.
"Adani Wilmar, a market leader in the branded edible oil and packaged food industries, is expected to give listing gains around 15 to 20 percent. Since the issue witnessed moderate response due to ongoing negative sentiments and volatility in the secondary market, we expect it to list in the range of Rs 260-265," Likhita Chepa, Senior Research Analyst at CapitalVia Global Research,

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