IPO
Luxury alcohol importer Monika Alcobev’s SME IPO subscribed 2.15 times
The BSE SME IPO of Mumbai-based luxury alcohol importer and distributor Monika Alcobev has been subscribed 2.15 times on the last day of the issue. The IPO consists of a fresh issue of 47.91 lakh shares valued at INR 137.03 crore and an offer for sale (OFS) of 10 lakh shares, amounting to INR 28.60 crore, by existing shareholders.The issue received 89,89,600 bids against the 41,80,800 shares offered. The Non Institutional Investors (NIIs) subscribed to the issue by 3.75 times, followed by the retail investors at 1.72 times. The Qualified Institutional Buyers (QIBs) had subscribed to the issue by 1.09 times via 2 applications for 11,67,200 shares. The price band is set at INR 271- 286 per share.Monika Alcobev has already raised INR 46.06 crore from anchor investors.Founded in 2015, Monika Alcobev imports and distributes premium and luxury alcoholic beverages in India and neighboring markets. Its portfolio includes over 70 international brands, such as Jose Cuervo, Bushmills, and Onegin Vodka.Marwadi Chandarana Intermediaries is the lead manager, and Bhansali Value Creations is the market maker. Marwadi Chandarana Intermediaries Brokers Pvt. Ltd. serves as the book-running lead manager for the issue.
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