Monika Alcobev IPO: The initial public offering (IPO) of Monika Alcobev, which kicked off for subscription today, sailed through on the first day of the bidding process amid strong demand for non-institutional investors (NII).
The ₹165.63 crore IPO is a combination of fresh share sale of ₹137.03 crore and an offer for sale of ₹28.60 crore. The issue will run for three days, with the subscription period set to end on July 18.
Monika Alcobev IPO price band has been set at ₹271 to ₹286 per share. Investors can apply for a lot of 400 shares and multiples thereof. The minimum amount of investment required by a retail investor is two lots, amounting to ₹2,16,800.
The company plans to use the fresh proceeds from the IPO for funding working capital needs, repayment of certain outstanding borrowings availed by the company and other general corporate purposes.
Monika Alcobev IPO Subscription Status
Monika Alcobev IPO was booked 1.31 times as of 3.50 pm on the first day of the bidding process. The retail portion was subscribed 27%, the NII portion 4.05 times and the qualified institutional buyer (QIB) portion 1.09 times.
Monika Alcobev IPO GMP
Monika Alcobev IPO GMP (grey market premium) was nil, according to investorgain.com. This means that Monika Alcobev IPO shares are trading at par to the upper end of the IPO price of ₹286. At the current rate, Monika Alcobev shares will list flat, in line with the issue price.
Grey market premium signals an investor’s willingness to pay higher than the issue price for a company’s shares. However, investors must not rely on the IPO GMP for making their investment decision. Their own risk appetite and company fundamentals are key before deciding whether to invest in a company.
About the company
Monika Alcobev helps premium liquor brands grow in the Indian Subcontinent by handling everything from importing and logistics to sales and marketing. The company works with over 100 brands and distributes them through hotels, restaurants, retail stores, and duty-free outlets. Its operations span India, Nepal, the Maldives, and Sri Lanka.
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