Adani Wilmar IPO Lists Discount, Closes Hefty Gains

Adani Wilmar had a weak listing on 08th February 2022 and listed on the NSE at Rs.227 against the issue price of Rs.230. Despite a weak listing, the stock did manage to bounce sharply after the listing in the morning and close with gains. At the end of Day-1, the stock of Adani Wilmar IPO closed at a smart premium to the issue price, despite listing weak.

With 17.37 times subscription and with positive action in the grey market, Adani Wilmar was expected to list at a premium to the issue price. However, actual listing was surprisingly at a discount, albeit small. Here is the Adani Wilmar listing story on both the stock exchanges; the NSE and the BSE on 08th February.

The IPO price was fixed at the upper end of the band at Rs.230 which was not too surprising considering that the issue was subscribed 17.37 times overall with reasonable interest coming from the Retail and the QIB segment and robust response from the NII / HNI segment of the IPO market.

The price band for the IPO was Rs.218 to Rs.230. On 08th Feb, the stock of Adani Wilmar listed on the NSE at a price of Rs.227; a small discount of Rs.3 over the issue price or a percentage discount of -1.3%. On the BSE, the stock listed at Rs.221 a discount of Rs.9 per share or -3.91% below the issue price. On both the exchanges, the opening price also turned out to be the low price for the day.

On the NSE, Adani Wilmar closed on 08th Feb at a price level of Rs.267.35, a first day closing premium of 16.24% on the issue price of Rs.230. The closing price represented a 17.78% premium above the listing price despite a flat to weak listing of the stock.

On the BSE, the stock closed at Rs.265.20, a first day closing premium of 15.30% on the issue price, but the stock closed at 20% premium above the listing price. On both the exchanges, the stock listed in the negative but that also turned out to be the low price of the day.

From that point, the stock bounced on both the exchanges and closed at the highest point of the day. The stock showed a lot of resilience and strength on both the exchanges on Tuesday.

On Day-1 of listing, Adani Wilmar touched a high of Rs.271.25 on the NSE and a low of Rs.227, gaining a lot of steam after listing at a discount in the morning. On Day-1 of listing, the Adani Wilmar stock traded a total of 1,355.35 lakh shares on NSE amounting to value of Rs.3,396.88 crore. On 08-Feb, Adani Wilmar was the most active stock in terms of traded value and the 4th most traded stock in terms of volume of shares traded.

On the BSE, Adani Wilmar touched a high of Rs.265.20 and a low of Rs.221, gaining almost the entire journey from low to high during the day. On the BSE, the stock traded a total of 75.10 lakh shares amounting to value of Rs.190.69 crore. On 08-Feb, Adani Wilmar was the 3rd most active stock on the BSE in terms of the traded value and it was the 17th largest in terms of number of shares traded during the day.

At the close of Day-1 of listing, Adani Wilmar had a market capitalization of Rs.34,467.48 crore with free-float market cap of Rs.3,102.07 crore.

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