Allied Blenders and Distillers IPO: GMP, date, subscription status, review, other details. Apply or not?

Allied Blenders and Distillers IPO: The initial public offering of Allied Blenders and Distillers Limited has hit the Indian primary market today. The mainboard public issue will remain open for bidders until 27th June 2024, i.e., Thursday this week. The company has fixed Allied Blenders and Distillers IPO price band at ₹267 to ₹281 per equity share. The company aims to raise ₹1500 crore from Allied Blenders and Distillers IPO, and the public issue is a mix of fresh shares and offers for sale (OFS). According to the stock market observers, Allied Blenders and Distillers Limited shares are available in the grey market at a premium of ₹76 today.

Allied Blenders and Distillers IPO subscription status

By 2:48 PM on day one of bidding, the public issue was booked 0.32 times, ther retail portion was filled 0.42 times whereas the NII portion of the book build issue was subscribed 0.46 times.

Important Allied Blenders and Distillers IPO details

1] Allied Blenders and Distillers IPO GMP: According to market observers, shares of the company are available at a premium of ₹76 in the grey market today.

2] Allied Blenders and Distillers IPO date: Bidding for the book build issue has opened today and will remain open until 27 June 2024.

3] Allied Blenders and Distillers IPO price: The company's public issue price band is fixed at ₹267 to ₹281 per equity share.

4] Allied Blenders and Distillers IPO size: The company aims to raise ₹1500 crore from this public issue, of which ₹1000 crore is aimed at the issuance of fresh shares.

5] Allied Blenders and Distillers IPO lot size: A bidder can apply in lots, and one lot of the mainboard issue comprises 53 company shares.

6] Allied Blenders and Distillers IPO allotment date: The finalization of share allocation is most likely on Friday, June 28th, 2024.

7] Allied Blenders and Distillers IPO registrar: Link Intime India Private Limited has been appointed as the official registrar of the public issue.

8] Allied Blenders and Distillers IPO listing: The public issue is proposed for listing on BSE and NSE.

9] Allied Blenders and Distillers IPO listing date: The share listing is most likely on Tuesday, July 2nd, 2024.

Allied Blenders and Distillers IPO: Apply or not?

10] Allied Blenders and Distillers IPO review: Giving a 'supply' tag to the public issue, Anand Rathi said, "The company's P/E ratio is 1,405 times its FY24 annualized earnings, with a market capitalization of ₹78,596 million after the issuance of equity shares and a market cap-to-sales ratio of 0.99 times its FY24 annualized earnings. The company plans to use its proceeds to pay down debt, lower finance costs, and boost profit margins. Even though the issue is fully priced in the near term, the company has promising long-term business prospects. Therefore, we recommend a "Subscribe – Long Term" rating for the IPO."

BP Equities has also given the public offer a 'subscribe' tag, saying, "On the valuation front, the issue looks expensive on the price-to-earnings multiple fronts and ahead of its peer set. However, looking at the alcohol industry dynamics and the company's strong positioning in the IMFL landscape, we would advise high-risk investors to "Subscribe" to the issue for listing gains."

Sushil Finance, Marwadi Shares and Finance, and SBICAP Securities have recommended a 'buy' rating for the public issue, whereas Swastika Investmart has recommended that the primary market investors avoid it.

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.