Allied Blenders IPO Open Date 2024; Vraj Iron and Steel IPO Details Explained | Two IPOs will open next week: Investment opportunity in Allied Blenders and Distillers and Vraj Iron and Steel, minimum investment ₹ 14,893.

Next week, 2 initial public offers i.e. IPOs will be open for listing in the share market. These include Allied Blenders and Distillers Limited and Vraj Iron and Steel Limited. Let us know about the IPO of these two companies one by one.

Allied Blenders & Distillers Limited
Allied Blenders and Distillers Limited wants to raise ₹1,500 crore through this IPO. For this, the company will issue 35,587,189 new shares worth ₹1,000 crore. Whereas, the existing investors of the company will sell 17,793,594 shares worth ₹500 crore through Offer for Sale (OFS).

Retail investors will be able to bid for this IPO from June 25 to June 27. The company’s shares will be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on July 2.

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 24.56%
Before the IPO opened, the company’s shares had reached a premium of 24.56% i.e. ₹ 69 per share in the gray market. In such a situation, according to the upper price band of ₹ 281, its listing can be at ₹ 350. 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.

Vraj Iron and Steel Limited
Vraj Iron and Steel Limited wants to raise ₹171 crore through this IPO. For this, the company will issue 8,260,870 shares worth ₹171 crore. This is a completely fresh IPO, in which the existing investors and promoters of the company are not selling even a single share through Offer for Sale.

Retail investors will be able to bid for this IPO from June 26 to June 28. The company’s shares will be listed on the National Stock Exchange and Bombay Stock Exchange on July 3. Vraj Iron and Steel Limited manufactures steel products such as sponge iron, billets and TMT bars under the Vraj brand.

Retail investors can bid for maximum 936 shares
Vraj Iron and Steel Limited has fixed the price band of this issue at ₹195-₹207. Retail investors can bid for a minimum of one lot i.e. 72 shares. If you apply for 1 lot as per the upper price band of IPO of ₹ 207, then you will have to invest ₹ 14,904.

At the same time, retail investors can apply for maximum 13 lots i.e. 936 shares. For this, investors will have to spend ₹ 193,752 as per the upper price band.

Vraj Iron and Steel premium in gray market 9.66%
Before the IPO opened, the company’s shares had reached a premium of 24.56% i.e. ₹ 69 per share in the gray market. In such a situation, according to the upper price band of ₹ 281, its listing can be at ₹ 350. Although this can only be estimated, the listing price of a share is different from the gray market price.

What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering i.e. IPO. The company needs money to expand its business. In such a situation, instead of taking loan from the market, the company raises money by selling some shares to the public or issuing new shares. For this the company brings IPO.