Adani Wilmar Limited IPO – Jan 27 to 31

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Adani Wilmar Limited IPO – Jan 27 to 31

January 24, 2022
Adani Wilmar Limited IPO – Jan 27 to 31

Adani Wilmar Ltd. is coming out with a fresh public issue to raise Rs 3600 crores from the market.

Key details of the issue:

  • Issue opens – Jan 27 (Thursday)
  • Issue closes – Jan 31 (Monday)
  • Issue size – Rs 3600 crores
  • Price band – Rs 218 to 230 per equity share
  • Bid lot – 65 shares and in multiples thereof
  • Employee reservation – Equity shares aggregating up to Rs 107 crores
  • Employee discount – Rs 21 per share
  • AEL Shareholder reservation – Equity Shares aggregating upto Rs 360 crores

And here are some details of the company and further details on the Adani Wilmar Ltd issue.

Company details:

Adani Wilmar Limited is one of the few large FMCG food companies in India to offer most of the primary kitchen commodities for Indian consumers, including edible oil, wheat flour, rice, pulses and sugar. (Source: Technopak Report) Commodities, such as edible oils, wheat flour, rice, pulses and sugar, account for approximately 66% of the spend on primary kitchen commodities in India. (Source: Technopak Report) They offer a range of staples such as wheat flour, rice, pulses and sugar. Their products are offered under a diverse range of brands across a broad price spectrum and cater to different customer groups.

They are a joint venture incorporated in 1999 between the Adani Group, which is a multinational diversified business group with significant interests across transport and logistics, and energy and utility sectors, and the Wilmar Group, one of Asia’s leading agribusiness groups which was ranked seventh largest listed companies by market capitalization on the Singapore Exchange as of September 30, 2021.

As of March 31, 2021, the Refined Oil in Consumer Packs (“ROCP”) market share of their branded edible oil was of 18.3%, putting them as the dominant No. 1 edible oil brand in India (Source: Nielsen Retail Index – MAT March 2021). “Fortune”, their flagship brand, is the largest selling edible oil brand in India (Source: Technopak Report). They have also leveraged their brands and distribution network to offer a wide array of packaged foods since 2013, including packaged wheat flour, rice, pulses, besan, sugar, soya chunks and ready-to-cook khichdi. They are among the top 5 fastest growing packaged food companies in India, based on the growth in revenues during the last five years (Source: Technopak Report). They also offer a diverse range of industry essentials, including oleochemicals, castor oil and its derivatives and de-oiled cakes.

They have the largest distribution network among all the branded edible oil companies in India (Source: Technopak Report). As of March 31, 2021, they were present in one out of three households in India with a household reach of 90.51 million through their Fortune brand (Source: IMRB). As of September 30, 2021, they had 5,590 distributors in India located in 28 states and eight union territories, catering to over 1.6 million retail outlets (Source: Technopak Report). As of September 30, 2021, they also had (i) 88 depots in India, with an aggregate storage space of approximately 1.8 million square feet across the country to ensure availability of their products; and (ii) 685 personnel in their sales and marketing team in India. They leverage their edible oil distribution network for packaged foods, and as of September 30, 2021, they had approximately 64% of their edible oil distributors in India catering to their packaged food distribution. In addition to traditional retail distribution channels, they also serve their customers offline and online through Fortune Mart and Fortune Online and provide them with ease of ordering their products from home.

They have won several awards and accolades, including Times CSR Awards 2021 Gujarat for their contribution towards the society in the field of healthcare services to prevent malnutrition and anemia by Optimalmedia Solutions, a division of Times Internet Limited, Confederation of Indian Industry Award for Food Safety in 2020 for the Mundra, Unit-I of Krishnapatnam and Neemuch manufacturing facilities, one of the top 100 most trusted brands in India by The Economic Times Brand Equity in 2020 for the Fortune brand, one of India’s 50 most admired brands by White Page International in 2017, India’s most attractive edible oil brands by TRA Research in 2016 and Superbrand by Superbrands Council in 2018. They have received the Great Place to Work Certification by Great Place to Work Institute, India since 2017. Angshu Mallick, the Chief Executive Officer and Managing Director of their Company, received the “Man of the Year” award from Globoil India at the World’s Leading Edible Oil and Agri Trade Conference in 2021.

Issue size: Rs 3600 crores


Employee reservation: Equity shares aggregating up to Rs 107 crores


Employee discount: Rs 21 per share


AEL Shareholder Reservation: Equity shares aggregating upto Rs 360 crores 


Issue break-up:

  • QIB – 50% of the net offer – Rs 1566 crores
  • NIB – 15% of the net offer – Rs 470 crores
  • RET – 35 of the net offer – Rs 1097 crores

Listing: NSE and BSE

Registrar: Link Intime India Private Limited

UPI: All retail applications through brokers are compulsorily in UPI mode

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