Adani Wilmar IPO
Adani Wilmar Limited (AWL) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 08 February 2022.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +1.2% (likely range -7% to +12%), day's high +8.5%, chance of a gain 50%. Actual: -1.3% at the open, +17.9% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 2,87,43,118 | 32,63,000 | 0.11x | |
| NII (HNI) total | 2,15,57,340 | 10,44,615 | 0.05x | |
| Retail | 5,03,00,459 | 2,66,73,205 | 0.53x | |
| Employees | 54,31,472 | 63,830 | 0.01x | |
| Shareholders | 1,65,13,761 | 7,39,505 | 0.04x | |
| Total | 12,25,46,150 | 3,17,84,155 | 0.26x |
Bids on NSE and BSE together, as published by NSE, as of 27 Jan 2022, 12:27 PM. Shares offered exclude the anchor portion. 8% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Adani Wilmar's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Hindustan AeronauticsMar 2018 | 1.73x | 0.03x | 0.39x | 0.99x | ₹7,191 Cr | -5.2% | -2.5% |
| H.G.Infra EngineeringFeb 2018 | 0.00x | 0.07x | 0.84x | 0.44x | ₹467 Cr | 0.0% | +2.2% |
| Anand Rathi WealthDec 2021 | — | — | — | — | — | +9.1% | +11.8% |
| Tega IndustriesDec 2021 | — | — | — | — | — | +67.8% | +69.5% |
| Go Fashion (India)Nov 2021 | — | — | — | — | — | +89.9% | +94.2% |
| Tarsons ProductsNov 2021 | — | — | — | — | — | +3.0% | +23.6% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Kotak Mahindra Capital Company | 83 | +20.8% | 76% |
| J.P. Morgan India | 27 | +17.4% | 74% |
| BofA Securities India | 18 | +30.6% | 72% |
| Credit Suisse Securities (India) | 11 | +15.6% | 82% |
| ICICI Securities | 109 | +21.3% | 69% |
| HDFC Bank | 16 | +15.8% | 75% |
| BNP Paribas | 10 | +10.5% | 50% |
Offer documents (NSE)
Frequently asked
What is the Adani Wilmar IPO price band and lot size? ₹218–230 per share, with a lot of 65 shares, so the smallest retail bid is ₹14,950.
How many times has it been subscribed? 0.26x overall: QIB 0.11x, NII 0.05x, retail 0.53x, employees 0.01x.
How did it list? It opened at ₹227, -1.3% against the issue price of ₹230, and closed its first day +16.6%.
