Last day! Monika Alcobev IPO closes today; check latest subscription, GMP

Business Standard

5 days ago

Monika Alcobev IPO Day 3 update, subscription status: Three-day subscription window to bid for the initial public offering (IPO) of liquor sector player Monika Alcobev is set to conclude today, July 18. The public offering has so far received favourable demand from investors, getting oversubscribed by 1.51 times by the end of the second day of subscription.
The demand among the individual categories was driven by the non-institutional investors (NIIs), who oversubscribed the category reserved for them by 2.95 times. This was followed by the qualified institutional buyers (QIBs), who bid 1.09 times. However, the response from retail investors remains sluggish, as they are yet to fully subscribe to their category. They have booked 87 per cent of their reserved quota.
Monika Alcobev IPO key details
Monika Alcobev IPO is a book building issue consisting of both fresh as well as offer for sale of equity shares. The SME offering consists of a fresh issue of 4.8 million equity shares worth ₹137.03 crore and an OFS through which shareholders are divesting up to 1 million shares worth nearly ₹28.60 crore.
The public issue is available at a price band of ₹271–286 per share and a lot size of 400 shares. Investors can bid for a minimum of 2 lots or 800 shares of Monika Alcobev IPO with an investment amount of ₹2,28,800.
Monika Alcobev, in its red herring prospectus (RHP), has said that it will not receive any proceeds from the OFS, as it will be given to shareholders divesting their stakes through the public issue. The company, however, said that it will use the proceeds from the fresh issue of the public offering for repayment and prepayment of certain outstanding borrowings, as well as to fund the working capital requirements. The company will further use the proceeds for general corporate purposes.
MUFG Intime India serves as the registrar for the public issue, while Marwadi Chandarana Intermediaries serves as the sole book-running lead manager.
Monika Alcobev IPO grey market premium (GMP) today
The unlisted shares of Monika Alcobev continue to command a decent premium in the grey market on the final day of subscription. Sources tracking unofficial market activity revealed that the unlisted shares of Monika Alcobev were trading at around ₹296 apiece, indicating a grey market premium (GMP) of ₹10 or 3.50 per cent over the upper end of the issue price of ₹286.
Monika Alcobev IPO timeline
As the public issue closes for subscription today, the basis for allotment of Monika Alcobev IPO shares is likely to get finalised on Monday, July 21. The successful allottees will receive the company's shares into their demat account tentatively by July 22.
Monika Alcobev shares are scheduled to list on the BSE SME, tentatively on July 23.
About Monika Alcobev
Incorporated in 2015, Monika Alcobev is an imported liquor sector player, offering a diverse portfolio of premium and luxury alcoholic beverages (Source: Technopak Report). Our company specialises in importing, sales, distribution, and marketing of luxury spirits, wines, and liqueurs throughout India and the Indian Subcontinent, including Travel Retail Duty Free Shops. It provides a complete supply chain solution through its robust distribution network. The company holds exclusive selling rights to more than 70 renowned global brands for India and the Indian Subcontinent and is responsible for their strategic brand development and market expansion.