Daily BriefsIndia

India: Adani Wilmar and more

In today’s briefing:

  • Adani Wilmar IPO Trading – Listing Sentiment Isn’t the Greatest

Adani Wilmar IPO Trading – Listing Sentiment Isn’t the Greatest

By Clarence Chu

  • Adani Wilmar (6596700Z IN) raised around US$500m in its India IPO.
  • Anchor quality wasn’t the greatest, in our view, and were the firm to trade towards its peers’ trailing average, it would imply a 21.8% downside potential. 
  • In this note we will talk about the subscription levels and trading dynamics.

Before it’s here, it’s on Smartkarma