Allied Blenders IPO Day 2: Retail Portion Fully Subscribed, Check Latest GMP

Allied Blenders is all set to raise ₹1,500 crores through its IPO, which opened for subscription on June 25, 2024, and will close on June 27, 2024. The IPO is a combination of a fresh issue of 3.56 crore shares and an offer for sale of 1.78 crore shares. The price band for the IPO is set at ₹267 to ₹281 per share, with a minimum lot size of 53 shares.

Allied Blenders IPO Subscription Status

As per the BSE data, the IPO has seen a subscription of 0.80 times as of June 26, 2024. The Qualified Institutional Buyers (QIBs) category was subscribed 0.02 times, the Non-Institutional Investors (NIIs) category was subscribed 1.30 times, and the Retail Individual Investors (RIIs) category was subscribed 1.02 times. The employee category saw a subscription of 3.60 times.

The IPO’s allocation structure reserves 20% of the shares for QIBs, 15% for NIIs, 35% for Retail Investors and the rest for anchor investors

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Allied Blenders IPO GMP

The Allied Blenders IPO GMP is currently reported at ₹87. With the IPO's price band set at ₹281, the expected listing price is ₹368, indicating a potential gain of approximately 31% on the listing. However, it’s important to note that GMPs are just an indicator and should not be the sole factor behind the company’s performance upon listing.

Allied Blenders IPO Details

The proceeds from the IPO will be used for prepayment or scheduled repayment of existing borrowings, financing working capital requirements, and addressing general corporate purposes. Prior to the IPO launch, the company secured ₹180 crores from anchor investors, including JM Financial Mutal Fund, LIC MF Dividend Yield Fund and others.

The shares of Allied Blenders are tentatively scheduled to be listed on both the BSE and NSE, on Tuesday, July 2, 2024.

About Allied Blenders

Established in 2008, Allied Blenders and Distillers is an Indian-made foreign liquor company. The company offers four Indian-made foreign liquor categories: whisky, brandy, rum, and vodka. They also sell packaged drinking water under the Officer’s Choice, Officer’s Choice Blue, and Sterling Reserve brands. The Officer’s Choice Whisky, introduced in 1988, is one of the most-selling whisky brands in the world in terms of annual sales volumes from 2016 to 2019.

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