Allied Blenders And Distillers IPO Subscribed 25x; Share Allotment Finalized, Steps To Check Status

The initial public offering (IPO) of Allied Blenders and Distillers, a player in India's alcoholic beverage industry, opened for subscription on Tuesday, June 25, 2024, and concluded on Thursday, June 27, 2024. The IPO witnessed enthusiastic participation from investors, particularly qualified institutional buyers (QIBs) and non-institutional investors (NIIs).

Strong Investor Interest

The Allied Blenders and Distillers IPO garnered considerable interest, leading to a strong subscription. The overall subscription stood at 24.85 times, with bids for 92,66,91,379 shares against the 3,72,91,814 shares on offer.

The retail portion was subscribed 4.73 times, the Qualified Institutional Buyers (QIBs)segment saw a remarkable subscription of 53.01 times, and the Non-Institutional Investors (NIIs)segment was subscribed 34.09 times.

Allied Blenders and Distillers' IPO was a mainboard issue, structured as a book-built offer. The IPO aimed to raise Rs 1,500 crore, comprising a fresh issue of 3.56 crore shares to generate Rs 1,000 crore and an offer for sale of 1.78 crore shares amounting to Rs 500 crore. The price band for the IPO was set between Rs 267 to Rs 281 per share, with a minimum lot size of 53 shares, requiring a minimum investment of Rs 14,893 from retail investors.

The allotment process for the IPO has been finalized, and successful allottees will receive their shares in their demat accounts by Monday, July 1, 2024. Those who did not receive shares will be refunded by the same date. The shares of Allied Blenders are expected to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Tuesday, July 2, 2024.

Investors can check the allotment status through the IPO registrar, Link Intime India Private Ltd., and the BSE and NSE websites. Here are the steps:

On the Registrar's Website

• Visit Link Intime India Private Ltd.
• Select 'Allied Blenders and Distillers' from the dropdown list.
• Choose the appropriate application type: Application No., Demat Account, or PAN.
• Enter the required details based on the chosen application type.
• Complete the captcha and click "Submit" to view the allotment status.

On the BSE Website

• Go to the BSE link for allotment status.
• Select 'Equity' as the issue type.
• Choose 'Allied Blenders and Distillers' from the issue name dropdown.
• Enter the application number or PAN details.
• Confirm that you are not a robot and click 'Search' to view the status.

The grey market premium (GMP) for Allied Blenders and Distillers IPO has been a topic of interest for potential investors. According to investorgain.com, the latest GMP is Rs 52. Based on the upper price band of Rs 281 per share, this indicates an estimated listing price of Rs 333 per share, suggesting an 18.51% premium.

Allied Blenders and Distillers is a prominent name in India's alcoholic beverages sector. The company boasts a diverse portfolio of spirits, including its flagship brand, Officer's Choice, which has a strong market presence. The company's focus on expanding its product range and enhancing distribution networks has contributed to its market position.

Allied Blenders and Distillers has demonstrated steady financial growth over the years. The company has reported increasing revenues and profitability, driven by strong brand equity and effective cost management. The funds raised through the IPO will be utilized to strengthen its market presence further, repay debts, and for general corporate purposes.

The Indian alcoholic beverages market is poised for growth, driven by increasing disposable incomes, changing lifestyles, and a growing preference for premium and branded spirits. Allied Blenders and Distillers, with its strong brand portfolio and market positioning, is well-placed to capitalize on these trends.

The successful IPO of Allied Blenders and Distillers marks an achievement for the company and reflects the confidence of investors in its growth prospects. The strong subscription numbers, coupled with a healthy grey market premium, indicate positive sentiment towards the company's future. As the shares are set to list on BSE and NSE, all eyes will be on Allied Blenders and Distillers.