Allied Blenders IPO Subscribed 0.67x on Day 2

Allied Blenders and Distillers Limited IPO witnessed an increased interest from investors on the 2nd day of subscription. Allied Blenders IPO offers 5,32,74,020 shares. 1,06,54,804 (20.00%) to QIB, 79,91,103 (15.00%) to NII, 1,86,45,907 (35.00%) to RII, 1,17,647 (0.22%) to employees and 1,59,82,206 (30.00%) to Anchor investors. 3,51,809 RIIs will receive a minimum of 53 shares, and 3,589 (sNII) and 7,179 (bNII) will receive a minimum of 742 shares. (in case of oversubscription)

Allied Blenders has appointed ICICI Securities Limited, Nuvama Wealth Management Limited and Iti Capital Ltd as the book-running lead managers of the Allied Blenders IPO, while Link Intime India Private Ltd is the registrar for the issue.

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.

• On the 2nd day of subscription, June 26, 2024, the IPO was subscribed to 0.67x. QIBs subscribed 0.09x, NIIs subscribed 1.33x, and retail investors subscribed 0.71x.

Grey Market Premium

Allied Blenders and Distillers IPO last GMP is ₹81. With a price band of 281.00, Allied Blenders and Distillers IPO’s estimated listing price is ₹362 (cap price + today’s GMP). The expected percentage gain/loss per share is 28.83%.

About Allied Blenders and Distillers Limited

Incorporated in 2008, Allied Blenders & Distillers Ltd. (ABDL) is an Indian-owned, Indian-made foreign liquor (IMFL) company having five main categories of IMFL, i.e. whisky, brandy, rum, vodka and gin. It also sells packaged drinking water under our Officer’s Choice, Officer’s Choice Blue and Sterling Reserve brands. ABDL is the largest Indian-owned Indian-made foreign liquor (“IMFL”) company and the third largest IMFL company in India in terms of annual sales volumes between Fiscal 2014 and Fiscal 2022.

It is one of the only four spirits companies in India with a pan-India sales and distribution footprint, a leading exporter of IMFL, and had an estimated market share (in terms of sales volume) of 11.8% in the Indian whisky market for Fiscal 2023.

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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.