Monika Alcobev IPO Day 2: GMP, Subscription Status, Price Band And More
Here's everything you need to know about the SME IPO of Monika Alcobev.
The initial public offering (IPO) of Monika Alcobev Ltd. that was fully subscribed on Day 1, has seen a tepid response so far on Day 2.
The BSE SME issue attracted bids for more than 54 lakh shares compared to 37.63 lakh shares on offer, leading to a subscription of 1.45 times on the second day on July 17.
The Qualified Institutional Buyers (QIBs) booked the issue 1.09 times. The Non-Institutional Investors’ (NII) category was subscribed 3.83 times. The retail portion of the IPO was booked 0.63 times.
Those who want to participate in the IPO subscription can check the following details before applying for Monika Alcobev shares.
Monika Alcobev IPO GMP Today
The grey market premium (GMP) for the Monika Alcobev IPO stood at Rs 10 apiece as of 3:29 p.m. on July 17. The latest GMO indicates a listing price of Rs 296 apiece at a premium of 3.50% over the upper limit of the IPO price band.
Note: GMP does not represent official data and is based on speculation.
Monika Alcobev IPO: Key Details
The Monika Alcobev IPO is a book-building issue worth Rs 165.63 crore. It comprises a fresh issue of 47.91 lakh shares, worth Rs 137.03 crore, and an offer-for-sale of 10 lakh shares, amounting to Rs 28.6 crore.
Retail investors can participate in the IPO by bidding for two lots comprising 800 shares, requiring an investment of Rs 2,16,800. High Net-Worth Individuals (HNIs) can bid for at least three lots, amounting to a minimum investment of Rs 3,43,200.
The price band for the IPO has been set between Rs 271 and Rs 286 per share.
The subscription window for the IPO is open from July 16 to July 18. The allotment of shares is proposed to be finalised on July 21. Monika Alcobev will transfer shares to the Demat accounts of the successful bidders on July 22 and refunds for non-allottees will also be processed on the same day.
Shares of Monika Alcobev are tentatively scheduled to be listed on the BSE SME platform on July 23.
Marwadi Chandarana Intermediaries Brokers Pvt. is the book-running lead manager of the Monika Alcobev IPO. MUFG Intime India Pvt. is the registrar and Bhansali Value Creations Pvt. is the market maker for the issue.
Use Of Proceeds
The company will use proceeds from the IPO to fund working capital requirements, clear debt and for general corporate purposes.
About Monika Alcobev
The company is an importer and distributor of luxury alcoholic beverages. It specialises in spirits, wines and liqueurs.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
