The initial public offer (IPO) of Adani Wilmar, the edible oil major, received 1.13 times subscription on the second day of offering on Friday. Livemint reported that the IPO is available at a premium of ₹45 in grey market.
This is ₹2 lower than Friday’s grey market premium (GMP), Livemint further said. It quoted market observers to say that has remain steady since its opening on January 27. The public issue will close on January 31.
Grey market premium is an estimated view about the listing gain one can expect from a particular public issue. It is non-regulated unofficial data, which has nothing to do with the balance sheet of the company.
Meanwhile, Adani Wilmar IPO received bids for 13,85,77,270 shares against 12,25,46,150 shares on offer, according to an update on the Bombay Stock Exchange (BSE).
The category for Retail Individual Investors (RIIs) was subscribed 1.85 times, while non-institutional investors received 88 per cent subscription and Qualified Institutional Buyers (QIBs) 39 per cent.
The ₹3,600 crore IPO is in a price range of ₹218-230 per share.
Adani Wilmar, which sells cooking oils and some other food products under the Fortune brand, is a 50:50 joint venture between business conglomerate Adani group and Singapore-based Wilmar.
The public issue received a 57 per cent subscription on the first day.
On Tuesday, Adani Wilmar Ltd had raised ₹940 crore from anchor investors.
The proceeds of the public issue will be used to fund capital expenditure, reduce debt and for acquisitions.
A total of six Adani group companies are listed on the domestic bourses at present.
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