Allied Blenders and Distillers Stock Debuts with 14% Premium

2 Jul 2024 , 09:50 AM

Allied Blenders and Distillers made a strong debut on the stock market, listing at a 14% premium. The shares opened at ₹320 on the NSE, 13.88% higher than the issue price of ₹281, and at ₹318.10 on the BSE, reflecting a 13.20% increase.

The initial public offering (IPO) of Allied Blenders and Distillers saw significant investor interest, with the subscription reaching 23.55 times the offer size. Investors bid for 92.71 crore equity shares against an available 3.93 crore shares. Non-institutional investors (NIIs) led the charge, subscribing to 32.40 times their allotted portion. Qualified institutional buyers (QIBs) followed, with a subscription of 50.37 times their reserved portion, while retail investors subscribed to 4.51 times their allocated shares.

Allied Blenders and Distillers offered its IPO in a fixed price band of ₹267-281 per share, with a lot size of 53 shares. The bidding period for the primary offering was from June 25 to June 27. The company, based in Mumbai, successfully raised ₹1,500 Crore through the IPO. This included a fresh issue worth ₹1,000 Crore and an offer-for-sale (OFS) of up to 1,77,93,594 shares.

Prior to the public offering, Allied Blenders secured ₹499.1 crore through its anchor book on June 24. Prominent investors in the anchor book included Societe Generale, Goldman Sachs, Troo Capital, BNP Paribas, 360 One Special Opportunities Fund, LIC Mutual Fund, and Jupiter India.