How Adani Wilmar’s India listing affects Wilmar International?

The public issue closed on 31 January.

The listing of Wilmar International’s joint venture Adani Wilmar (AWL) on the National Stock Exchange of India (NSE) and Commbay Srock Exchange (BSE) is expected to have a “minimal” impact on the Singaporean agribusiness, UOB Kay Hian said in a report.

The analyst also does not expect any special dividend post sisting of AWL.

This is because AWL only contributes 5% in the Wilmar Group’s earnings, the analyst explained.

“However, the easing of the capital needs from the holding company may lead to higher dividend payout in the future,” UOB Kay Hian said.

AWL’s IPO range was set at $3.92 to $4.14 per share (Rs218-230).

The public issue, comprising fresh equity shares, opened for subscription on 27 Jan 22 and closed on 31 January, translation into a market capitalisation of $5.09b to $5.38b (Rs283b-299b).

The edible oil manufacturer has allocated 40,865,217 shares to its 15 Anchor investors (AI) at the allocated price of $4.14 (Rs230) per share.

Of the total allocation, 39.22% was given to the government of Singapore and 8.66% was given to the Monetary Authority of Singapore.

(0.018 Rs = 1 SGD)