Allied Blenders And Distillers Limited IPO; Price Band, Date, GMP, IPO Update | Allied Blenders IPO subscribed 1.61 times in two days: 1.75 times subscribed in retail category, today is the last day of bidding.

Today is the last day for subscription to the Initial Public Offer (IPO) of Allied Blenders and Distillers. This issue was subscribed a total of 1.61 times in two days. This IPO was subscribed 1.75 times in the retail category, 0.15 times in the Qualified Institutional Buyers (QIB) category and 3.14 times in the Non-Institutional Investors (NII) category.

The company’s shares will be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on July 2. Allied Blenders and Distillers Limited wants to raise ₹1,500 crore through this IPO. For this, the company is issuing 35,587,189 new shares worth ₹1,000 crore. Whereas, the existing investors of the company are selling 17,793,594 shares worth ₹500 crore through Offer for Sale (OFS).

Retail investors can bid for maximum 689 shares
Allied Blenders and Distillers Limited has fixed the price band of this issue at ₹267-₹281. Retail investors can bid for a minimum of one lot i.e. 53 shares. If you apply for 1 lot as per the upper price band of IPO of ₹ 281, then you will have to invest ₹ 14,893.

At the same time, retail investors can apply for maximum 13 lots i.e. 689 shares. For this, investors will have to spend ₹ 193,609 as per the upper price band.

Allied Blenders & Distillers premium in gray market 27.4%
Before the IPO opened, the company’s shares had reached a premium of 27.4% i.e. ₹ 77 per share in the gray market. In such a situation, according to the upper price band of ₹ 281, its listing can be at ₹ 358. Although this can only be an estimate, the listing price of a share is different from the gray market price.

The company’s 16 brands of liquor related products
Allied Blenders & Distillers is one of the largest companies producing Indian Made Foreign Liquor (IMFL). The company’s portfolio consists of 16 brands of whiskey, brandy, rum and vodka. These include Officers Choice Whiskey, Sterling Reserve and Officers Choice Blue, among other brands.