Monika Alcobev IPO subscribed 1.32x on Day 2 so far; Check GMP, and other details
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The BSE SME IPO of Monika Alcobev, a luxury alcohol importer and distributor, has seen moderate investor response, with the issue subscribed 1.32 times as of 11:01 AM on July 17. The public offering, which opened on July 16, will close on July 18.As per the latest update, investors placed bids for 55.21 lakh shares, exceeding the 41.80 lakh shares on offer. The non-institutional investor (NII) segment has shown the strongest interest, with 2.79 times subscription for their reserved quota of 12.24 lakh shares. Meanwhile, retail investors have subscribed to 50% of their allocation (18.81 lakh shares), and qualified institutional buyers (QIBs) have subscribed 1.09 times their share.In the grey market—an unofficial trading venue for IPO shares ahead of listing—Monika Alcobev was seen quoting Rs 10 premium over the issue price. Based on the upper end of the IPO price band at Rs 286, this translates to a potential listing gain of around 3.5%, assuming current market sentiment holds.Monika Alcobev aims to raise Rs 165.63 crore through a combination of fresh issue and offer for sale (OFS) in its IPO. The company's shares are expected to debut on the BSE SME platform on July 23.With just one day left for bidding, investor traction in the retail and QIB segments will be critical in determining final subscription levels and listing-day sentiment. Monika Alcobev IPO comprises a fresh issue of 47.91 lakh shares worth Rs 137.03 crore, and OFS of 10 lakh shares aggregating Rs 28.60 crore by existing shareholders.The price band is set at Rs 271–286 per share, and investors can bid in lots of 400 shares, translating to a minimum investment of Rs 2.16 lakh for retail applicants. So far, there is no visible grey market premium (GMP) for the issue, indicating muted pre-listing excitement among informal investors.Monika Alcobev has already raised Rs 46.06 crore from anchor investors, including institutional players, on July 15.MUFG Intime India is the registrar, while Marwadi Chandarana Intermediaries is the lead manager for this BSE SME offer. Bhansali Value Creations is the market maker for the issue.Marwadi Chandarana Intermediaries Brokers Pvt. Ltd. is serving as the book-running lead manager for the Monika Alcobev IPO, with MUFG Intime India Private Limited (Link Intime) appointed as the registrar for the issue.Founded in 2015, Monika Alcobev is a prominent importer and distributor of premium and luxury alcoholic beverages in India and neighbouring markets. Its portfolio features over 70 international brands, including names like Jose Cuervo, Bushmills, and Onegin Vodka.The company operates across India, Sri Lanka, Nepal, the Maldives, and Bangladesh, serving hotels, restaurants, retail outlets, and airport duty-free segments. It boasts a wide distribution network and employs 191 people as of March 2025.Monika Alcobev reported a 25% jump in revenue and a 39% rise in net profit in FY25, with EBITDA growing to Rs 46.19 crore.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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