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After a record-breaking performance in 2021, the initial public offering (IPO) market showed mixed returns in 2022, due to increased volatility caused by geopolitical issues and global economic turmoil. Amidst all these, India turned out to be an outlier when most of the global markets registered negative returns. The relatively stable equity market in India was due to a smart economic recovery from the pandemic shock and the growing participation of retail investors. India outshined global markets in the year 2022, as it stood resilient to several global headwinds like; high inflation, rising interest rates, currency swings, geopolitics uncertainties and the onslaught of FII selling. Adani Wilmar IPO, which listed in January 2022, remained the top-performing IPO for the year 2022, with a return of more than 128% since the listing. Adani Wilmar is a joint venture between the Adani group and Singapore based Wilmar International. Wilmar is in fact one of the largest palm oil producers in the world and they have a 44% stake in this FMCG Company. Adani Wilmar has ambitious growth prospects and it aims to be the largest food company in India by 2027. This case study analyses the key factors that contributed in making Adani Wilmar's IPO a success story in the midst of global headwinds. This case also throws insights into the key drivers of IPO success and the suitable strategies that companies can adopt to manage their IPO.