Adani Wilmar IPO Listing: The Adani Wilmar IPO had a very disappointing listing on the stock exchange on Tuesday morning. Adani Wilmar had a very weak start. The stock fell to Rs 227 below its issue price of Rs 230. But the stock made a great comeback from the lower levels.
Buying in Adani Wilmar’s stock returned due to buying by investors from the lower level. The stock reached Rs 271.25 in afternoon trading. And at the end of Tuesday’s trading session, Adani Wilmar’s stock closed at Rs 268.25 with a jump of 16.63 per cent. According to market experts, there has been a disappointing listing of Adani Wilmar due to deteriorating stock market mood. However, experts are advising investors to stay in the stock.
Let us tell you that on one hand Adani Wilmar’s stock was listed on the stock exchange, while on the other hand the company’s excellent financial performance has also been disclosed. Adani Wilmar’s net profit has increased by 58 percent in the 2020-21 financial year, which was Rs 460.87 crore in 2019-20. So the revenue has increased to Rs 37090.42 crore, in which there has been an increase of 25 percent. Which was Rs 29,657 crore in 2019-20. At the same time, there has been an increase of 23.66 percent in profit for the half ended September 30, 2021, which has been Rs 357.13 crore, while the revenue has increased to Rs 24,874.52 crore during this period, which has seen a great jump of 53.65 percent. Many market experts believe that looking at the half yearly results, it seems that the company can show great results at the end of this financial year.
Adani Wilmar has raised Rs 3600 crore through IPO. Let us tell you that the price band of the IPO was fixed at Rs 218 to 230. Let us tell you that a completely fresh issue has been issued in the IPO, the promoter has not sold its stake.
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