Monika Alcobev IPO listing: Shares of Monika Alcobev made a flat debut on the bourses on Wednesday, July 23, listing at ₹288 on BSE SME, a premium of just 0.7 percent over its IPO price of ₹286.
The SME initial public offering (IPO), with a total issue size of ₹165.63 crore, was open for bidding from July 16 to July 18. The offering received an healthy response from investors, closing with a subscription of 4.08 times.
The IPO attracted bids for 1.53 crore shares compared to the 37.63 lakh shares on offer. The retail investor category was subscribed 2.92 times while the non-institutional investor (NII) segment witnessed 8.86 times subscription. Meanwhile, the qualified institutional buyer (QIB) portion was bid the most, 2.54 times.
About the IPO
The IPO was a combination of fresh issue of 47.91 lakh shares aggregating to ₹137.03 crore and offer for sale of 10.00 lakh shares aggregating to ₹28.60 crore. The lot size for the IPO was fixed at 400 shares, with the minimum investment for retail investors set at ₹2.16 lakh, equivalent to applying for two lots or 800 shares.
Monika Alcobev plans to use the proceeds from its IPO for key business objectives. According to its draft prospectus, the company aims to allocate approximately ₹100.64 crore towards meeting its working capital needs. In addition, around ₹11.45 crore will be set aside for prepayment or repayment of certain outstanding borrowings. The remaining funds will be used for general corporate purposes.
Ahead of the public offering, the company successfully raised ₹46.06 crore from anchor investors on July 15.
Marwadi Chandarana Intermediaries Brokers Pvt. Ltd. is the book-running lead manager of the Monika Alcobev IPO, while MUFG Intime India Private Limited (Link Intime) is the registrar for the issueT. Meanwhile, the market maker for Monika Alcobev IPO is Bhansali Value Creations Private Limited.
About the Company
Founded in 2015, Monika Alcobev Limited is engaged in the import and distribution of premium alcoholic beverages across India and the Indian Subcontinent. The company boasts a diverse portfolio of over 70 luxury brands, featuring globally recognised names such as Jose Cuervo, Bushmills, and Onegin Vodka.
Its operations span multiple countries, including Nepal, Maldives, Sri Lanka, and Bangladesh, catering to segments like HORECA (hotels, restaurants, and cafes), retail, and travel retail. Backed by a workforce of more than 250 professionals, Monika Alcobev handles end-to-end logistics, distribution, and brand marketing to deliver high-quality alcobev experiences.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
