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Business Standard
7 days ago
- Business
- Business Standard
Last day! Monika Alcobev IPO closes today; check latest subscription, GMP
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.
Mint
11-06-2025
- Business
- Mint
Orkla India IPO: MTR Foods owner files DRHP with SEBI for public offer
MTR Foods IPO: Orkla India, which markets its products under our brands MTR and Eastern, filed its draft red herring prospectus with the market regulator Securities and Exchange Board of India (SEBI) to raise funds via an initial public offering (IPO). The proposed IPO by Orkla India is entirely an offer for sale (OFS) of up to 2.28 crore shares by the promoter and other selling shareholders of the company. Orkla Asia Pacific Pte, Navas Meeran and Feroz Meeran are among the shareholders offloading stake via the OFS. Given the OFS nature of the Orkla IPO, the entire proceeds will go to the selling shareholders, and the company will not receive anything. Under the Orkla India IPO, 50% of the offer is reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs) and 35% for the retail bidders. Orkla, formerly known as MTR Foods, is a multi-category Indian food company, specialising in South Indian cuisine. It offers various products for breakfast, lunch, snacks, dinner, beverages and desserts. The key product categories include spices and convenience Foods. Its products are marketed under its brands MTR and Eastern. According to the Technopak Report, quoted in the DRHP, in Fiscal 2024, Orka India was one of the top four companies in terms of revenue from operations among select leading spices and convenience food peers. The company held approximately 22.2% market share in the Indian branded spices exports segment in Fiscal 2024. Meanwhile, Eastern has maintained its position as India's largest exporter of branded spices for 24 consecutive years. ICICI Securities, Citigroup Global Markets India, JP Morgan India, and Kotak Mahindra Capital Company are the book-running lead managers to the issue. Orkla India IPO shares are proposed to be listed on the BSE and the National Stock Exchange (NSE). Disclaimer: This story is for educational purposes only. 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.
