Allied Blenders IPO Subscribed 0.20x on Day 1: Did You Subscribe?

The Indian-made foreign liquor company Allied Blenders and Distillers Limited has opened its IPO to raise money from the public on June 25, 2024, and will close on June 27, 2024. Allied Blenders IPO is a book-built issue of ₹1,500.00 crore. The issue is a combination of a fresh issue of 3.56 crore shares aggregating to ₹1,000.00 crores and an offer for sale of 1.78 crore shares aggregating to ₹500.00 crore.

Allied Blenders IPO price band is set at ₹267 to ₹281 per share. The minimum lot size for an application is 53 Shares. The minimum amount of investment required by retail investors is ₹14,893. The minimum lot size investment for sNII is 14 lots (742 shares), amounting to ₹2,08,502, and for bNII, it is 68 lots (3,604 shares), amounting to ₹1,012,724.

Day Wise Subscription

On the 1st day of subscription, June 25, 2024, the IPO was subscribed to 0.20x. QIBs subscribed 0.00x, NIIs subscribed 0.37x, and retail investors subscribed 0.24x.

Grey Market Premium

Allied Blenders and Distillers IPO last GMP is ₹90. With a price band of 281.00, Allied Blenders and Distillers IPO’s estimated listing price is ₹371 (cap price + today’s GMP). The expected percentage gain/loss per share is 32.03%.

Allied Blenders IPO Objectives

The Company proposes to utilise the Net Proceeds towards funding the following objects:

• Prepayment or scheduled repayment of a portion of certain outstanding borrowings availed by the Company and
• General corporate purposes.

About Allied Blenders and Distillers Limited

Incorporated in 2008, Allied Blenders and Distillers is an Indian-made foreign liquor company. The company offers four categories of Indian-made foreign liquor: whisky, brandy, rum, and vodka. In addition, it sells packaged drinking water under the Officer’s Choice, Officer’s Choice Blue, and Sterling Reserve brands.

Officer’s Choice Whisky was introduced in 1988 as the company’s foray into the mass premium whisky market. From 2016 to 2019, it was one of the most-selling whisky brands in the world in terms of annual sales volumes.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.