IPO: Fortune oil-parent Adani Wilmar's issue fully subscribed on day 2

Adani Wilmar IPO: Adani Wilmar, the joint venture between Adani Group and Wilmar Group and also the parent company of the famous oil brand Fortune, is opening its public offer from today, i.e January 27.

Adani Wilmar is an FMCG food company offering most of the essential kitchen commodities for Indian consumers, including edible oil, wheat flour, rice, pulses, and sugar.

Adani Wilmar IPO Details:-

• IPO Dates: Jan 27 to 31
• IPO Price: Rs 218 to 230
• Market Lot: 65 shares
• Issue Size: Rs 3,600 crore
• GMP: Rs 50 (21%)
• Min Investment: Rs 14,950

The expected date for the listing of the shares of Adani Wilmar is February 8. The company will utilise the proceeds from the IPO for funding capital expenditure; repayment/prepayment of borrowings; funding strategic acquisitions and investments; and for general corporate purposes.

Among the competitive strengths are its strong brand recall value, large distribution network, and strong business networks to source raw material.