Allied Blenders IPO allotment status: Check application status, latest GMP and listing date

28/06/2024

Allied Blenders and Distillers is scheduled to finalize the basis of allotment of its shares on Friday, June 28. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate either on Friday or latest by Monday July 01. The alcohol products player had received a decent response from the investors.

The IPO of Allied Blenders and Distillers was open for bidding June 25 and June 27. The Mumbai-based company had offered its shares in the fixed price band of Rs 267-281 per share with a lot size of 53 shares. The company raised Rs 1,500 crore via its primary offering, which included a fresh share sale of Rs 1,000 crore and an offer-for-sale (OFS) of up to 1,77,93,594 shares.

The issue was overall subscribed a stellar 23.55 times. The quota for qualified institutional bidders (QIBs) was booked a strong 50.37 times The quota for non-institutional investors was subscribed 32.40 times. The portions reserved for retail investors and employees saw bidding for 4.51 times and 9.89 times, respectively during the three-day bidding process.

Grey market premium (GMP) of Allied Blenders and Distillers has corrected sharply following the closure of the bidding process. Last heard, the company was commanding a premium of Rs 55-60 per share, suggesting a listing pop of around 20-22 per cent for the investors. However, it was around Rs 90 apiece, when the issue kicked-off for bidding.

Incorporated in 2008, Allied Blenders and Distillers is an Indian-made foreign liquor (IMFL) company. The company offers five Indian-made foreign liquor categories: whisky, brandy, rum, vodka and gin. In addition, they sell packaged drinking water under the Officer's Choice, Officer's Choice Blue, and Sterling Reserve brands.

Brokerage firms are mostly positive on the issue suggesting investors to subscribe to it on the back of benefits from premiumisation, growth of markets, strong hold in the certain categories and rising demand for the products. However, aggressive valuations and losses in the recent past has kept some analysts skeptical on the issue.

ICICI Securities, Nuvama Wealth Management and ITI Capital are the book running lead managers of the Allied Blenders IPO, while Link Intime India is the registrar for the issue. Shares of the company shall be listed at both BSE and NSE with July 2, Tuesday as the tentative date of debut at the bourses.

Investors, who had bid for the issue of Allied Blender and Distillers, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select Allied Blender and Distillers Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit submit

Investors can also check the allotment status on the online portal of Link Intime India (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

1) Go to the web portal of Link Intime Limited

2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

Watch Live TV in English

Watch Live TV in Hindi

OTHER NEWS