Multibagger IPO: Adani Wilmar shares are performing consistently well. The company’s shares are trading at Rs 630.25, up almost 4% on the BSE. The shares of the company had reached Rs 634 in early trade today. The company’s shares have made investors rich only after the listing day. It has given a multibagger return of about 185% since its listing day. The stock has risen nearly 84% in the past one month.
185 percent gain from issue price
Let us tell you that the Adani Wilmar IPO was launched on 27 January 2022 and its shares were listed on 8 February 2022. The issue price of the company was ₹218 to ₹230. The company’s shares were listed on BSE on February 8 at a discount of Rs 221. Accordingly, the shares of Adani Wilmar have given a strong return of more than 185% to its investors in about two and a half months.
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Rs 1.94 lakh becomes Rs 5.54 lakh
The Adani Wilmar IPO was offered at ₹218 to ₹230 per equity share. 65 shares were placed in one lot for the issue. In such a situation, an investor had to invest Rs 1,94,350 to apply in this IPO. If an allottee had retained his investment in this multibagger IPO from the post listing period till now, his 1,94,350 would have become 5.54 lakh today, just two and a half months later.
Benefits of Russia-Ukraine war
Adani Wilmar’s shares have benefited from the war between Russia and Ukraine. According to market experts, the Ukraine crisis has affected the imports of sunflower oil in India, which has ultimately led to a rise in the prices of sunflower oil and increased demand. In such a situation, Adani Wilmar has benefited the most as it is the largest player in the edible oil market in India. Adani Wilmar has a very strong delivery network and the company is planning to expand it further in the next 3-4 years.
Share may reach Rs 750
Considering all the positive factors of the company, domestic brokerage house Adani Wilmar is bullish on the shares and has given it a BUY rating. Anuj Gupta, Head, IIFL Securities has a buy call on the stock with a target price of Rs 700-750. According to the brokerage firm, it can be bought at a toploss of Rs 530.
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company business
Adani Wilmar is a 50:50 JV between the Gautam Adani-led conglomerate Adani Group and the Singapore-based Wilmar Group. The company sells cooking oils under the Fortune brand. Apart from cooking oil, it sells food products such as rice, wheat flour and sugar. It also sells non-food products such as soaps, handwashes and sanitizers.
(Disclaimer: This information is given on the basis of share performance and investment advice is given by the brokerage house. Markets are risky, so take expert opinion before investing.)