Adani Wilmar, a company headed by Adani Group Chairman Gautam Adani, was listed on the stock exchange on Tuesday. This is his seventh company to be listed in the market. However, contrary to expectations, its shares got listed at a discount of 4 percent. Its share was listed at Rs 221, its price was fixed at Rs 230 in the IPO. But after listing it declined by 4 percent.
More than 17 times the bids were received
One of the country's largest FMCG (fast-moving consumer goods) companies, Adani Wilmar's IPO took place between January 27 and 31 and received 17.37 times more bids. The IPO received a good response from all types of investors, although the volatility in the market during that period affected it a bit. The highest bids for the IPO were received from the category of non-institutional investors, who bid 56.30 times more than their allotted quota. The second number was the shareholder quota, which got 33.33 times more subscriptions. However, after listing at a discount, its shares saw a rise and by 10.30 pm, a jump of Rs 20 was recorded in the shares. At present, this stock is trading around Rs.250.
The money raised here will be used
It is worth noting that out of the IPO proceeds by the company, Rs 1,900 crore will be used for capital expenditure, while about Rs 1,058.9 crore will be used by the company to reduce debt. The remaining Rs 450 crore will be spent on strategic acquisitions and other investments. Adani Wilmar is a joint venture between foreign company Wilmar and Adani Group. Both had a 50-50 percent stake. However, after the issue, this stake has come down to 87.92 percent. This means Adani's stake will be around 44 percent.
7 companies of the Adani group listed
Adani Group's 7 companies are listed on the Indian stock exchange. In January this year itself, all these companies have given returns ranging from 5 percent to 45 percent. In particular, the group's energy companies have been the biggest gainers. On Tuesday also the shares of Adani Enterprises, Adani Power, Adani Green Energy are rising while the stocks of Adani Port, Total Gas, and Transmission are down. Adani Green Energy's market cap has crossed Rs 3 lakh crore.
ROJGAR MELA: PM Modi addressed the employment fair in Maharashtra through video conferencing, congratulated the youth
Prime Minister Narendra Modi addressed the employment fair organized in Maharashtra through video conferencing. He said that today the name of Maharashtra is being added to the campaign of
LSG vs MI: After Mumbai's third defeat, captain Hardik Pandya got angry at the batsmen and bowlers, know what he said
After losing the IPL match against Lucknow Supergiants by 12 runs in IPL 2025, Mumbai Indians captain Hardik Pandya on Friday said that his team conceded 10-12 runs more while bowling. In the
Comedian Raju Srivastava's team told his condition, had a heart attack while working out
Comedian Raju Srivastava suffered a heart attack while working out. It is being told that while exercising on Wednesday morning, he fell on the trade mill. He was admitted to AIIMS. Raju's team has
Kohli vs Gambhir: Uproar in Lucknow-Bangalore match, Kohli clashed with Naveen-ul-Haq, and later argued with Gambhir
In the 43rd match of IPL 2023, Royal Challengers Bangalore defeated Lucknow Supergiants by 18 runs. During this match, the high-voltage drama was seen in the field. During and after the match, some
Rahul Dravid in Bollywood: 'Which actor would you like to see in your biopic?' Dravid gave a funny answer, know
Rahul Dravid, who led the Indian team to win the T20 World Cup under his coaching, is spending quality time with his family away from cricket these days. However, he is seen in some award functions in
Sourav Ganguly: Is Rajkumar Rao finalized for 'Dada' biopic? Which actors' names have come up so far?
Sourav Ganguly, known as the 'Prince of Kolkata' of Indian cricket, has his birthday today i.e. on 8th July. He was born in 1972 in Kolkata, West Bengal. Ganguly, who gave new aggression to Indian
Ukraine crisis: Indian students should leave the city of Kyiv today under any circumstances, the embassy issued advisory
Amid the Russia-Ukraine crisis, the Indian Embassy in Ukraine has once again issued an advisory. This advisory states that all Indian students should leave the city of Kyiv with immediate effect. You
Joshimath: Demand to declare Joshimath landslide a national disaster, case to be listed in Supreme Court tomorrow
The petitioner has sought immediate intervention from the Supreme Court in the Joshimath landslide case. The petitioner has appealed that the matter requires an urgent hearing and that the crisis be
Rising heat can scorch the country's economy, apart from life, a heatwave can also take away jobs
India can no longer ignore issues like global warming. On the one hand, where there is scorching heat in India, on the other hand, the cold season is also shrinking. The World Bank report, titled
IND vs PAK: India maintains unbeaten run in Asia Cup, beats Pakistan for the second time in eight days
The Indian team, led by Suryakumar Yadav, maintained its unbeaten run in the Asia Cup, defeating arch-rivals Pakistan for the second time in eight days. After the group stage, India defeated Pakistan
