High Anticipation as Allied Blenders IPO Allotment Finalizes Today

Both qualified institutional buyers (QIBs) and non-institutional investors (NIIs) showed a great deal of interest in Allied Blenders and Distillers’ initial public offering (IPO), which was available for subscription from June 25 to June 27, 2024. On June 28, today, the share allotment for this IPO will be finalized. Following allocation, on Monday, July 1, 2024, shares will be deposited to allottees’ demat accounts; those who do not obtain shares will receive a refund on the same day. On Tuesday, July 2, 2024, the shares are anticipated to be listed on the BSE and NSE.

How to Monitor Status of Allotment

Through the BSE website or Link Intime India Private Ltd., the IPO registrar, investors can check the status of their allotment. Here are the detailed instructions for both techniques:

Website Link for Intime India:

Go to the website of Link Intime India.

From the dropdown menu, choose the IPO (the name won’t show up until the allotment is finished).

To view the status, click the link for the PAN, Demat Account, or Application No.

Select ASBA or non-ASBA depending on the application type.

For the chosen mode, enter the pertinent information.

After completing the captcha, press “Submit”.

BSE Online:

Visit the BSE webpage.

Select ‘Equity’ from the drop-down menu for issue type.

In the issue name area, type ‘Allied Blenders and Distillers’.

Input the PAN or application number.

Click “I am not a robot” to confirm.

Press the ‘Search’ button to see the current status of allotment.

IPO Specifics and Status of Subscriptions

With the combination of a new issue of 3.56 crore shares valued at ₹1,000 crore and an offer for sale of 1.78 crore shares totaling ₹500 crore, Allied Blenders and Distillers sought to collect ₹1,500 crore through its initial public offering (IPO). With a minimum lot size of 53 shares and a price band of ₹267 to ₹281 per share, individual investors had to invest a minimum of ₹14,893 to participate in the IPO.

A total of 24.85 times were subscribed to the IPO; 4.73 times were subscribed by retail investors, 53.01 times by QIBs, and 34.09 times by NIIs. The intense bidding, which saw 92,66,91,379 shares placed against the 37,291,814 shares on sale, demonstrated the high demand.

Premium Grey Market

For the Allied Blenders and Distillers IPO, the most recent grey market premium (GMP) is ₹52. With an 18.51% premium, the estimated listing price is ₹333, based on the upper price band of ₹281 per share.

Overview of the Company

Established in 2008, Allied Blenders and Distillers is a well-known participant in the Indian-made foreign liquor (IMFL) industry, providing a variety of goods such as bottled drinking water, whisky, gin, vodka, rum, and brandy. Sterling Reserve, Officer’s Choice, and Officer’s Choice Blue are important brands.

Suggested Brokerages

Since the company has a strong category presence, a premium product range, growing market share, and rising demand, brokerage companies typically advise subscribing to the IPO. However, because of the recent financial losses and the high prices, some analysts continue to be concerned.

In conclusion, there has been a lot of interest in the Allied Blenders and Distillers IPO, and today is the final day of the share distribution. The BSE and Link Intime India websites allow investors to view their allotment status. Shares are scheduled to go public on July 2, 2024.

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