Monika Alcobev share price: Stock makes weak debut at 0.7% premium; here's how much investors gained

Monika Alcobev share price: Shares of premium alcoholic beverages importer Monika Alcobev made a weak debut on the SME platform of the BSE on Wednesday, July 23.

The stock listed at ₹288 a unit, a premium of 0.7% over the IPO issue price of ₹286 per share.

Monika Alcobev share price: Here's how much investors gained

The ₹165.63 crore initial share sale was subscribed to 3.78 times, with bids for 1,57,82,800 shares as against 41,80,800 shares on offer, as per the BSE data.

The non-institutional investors (NIIs) category bid the most, attracting 6.18 times the subscription as they bid for 75,58,800 shares against 12,24,000 shares on offer.

The portion for individual investors was booked 2.92 times. They submitted applications for 54,88,000 shares compared to 18,81,600 shares reserved.

The qualified institutional buyers (QIBs) got 2.54 times the subscription, as they applied to 27,36,000 shares against 10,75,200 shares offered.

The IPO comprised a fresh issue of ₹137.03 crore and an offer for sale of ₹28.60 crore. The price band was fixed at ₹271 to ₹286 per equity share.

The funds raised will be utilised for working capital requirements, debt clearance and general corporate purposes.

Prior to the public issue, the company had collected ₹46.06 crore from anchor investors, including Craft Emerging Market Fund, Pine Oak Global Fund, Vikasa India, Krushnam Nexus Capital, North Star Opportunities Fund, Nexus Equity Growth Fund, Viney Growth Fund, and Century India Opportunity Fund.

Monika Alcobev is a key player in the imported liquor sector, providing a diverse portfolio of luxury and premium alcoholic beverages. It specialises in importing, sales, marketing and distribution for luxury spirits, wines and liqueurs both domestically and internationally across nations in the Indian subcontinent.

Marwadi Chandarana Intermediaries Brokers was the book-running lead manager of the issue, while MUFG Intime India (formerly Link Intime) was the registrar.