As of 12:45 pm, on July 18, the issue received 89,89,600 bids against the 41,80,800 shares offered. The Non Institutional Investors (NIIs) drove an enthusiastic response, subscribing to the issue by 3.75 times, followed by the retail investors at 1.72 times.
The Qualified Institutional Buyers (QIBs) had subscribed to the issue by 1.09 times via 2 applications for 11,67,200 shares.
The offering, which opened on July 16, will close today, on July 18, 2025.
In the unlisted market, Monika Alcobev was trading at a grey market premium (GMP)of Rs 0. When the GMP is Rs 0, it indicates that there is little to no investor enthusiasm in the grey market for the stock, suggesting that informal investors do not expect much price appreciation once the stock gets listed on the exchange.
Essentially, this suggests a neutral or lackluster pre-listing sentiment.The IPO seeks to raise Rs 165.63 crore, combining a fresh issue and an offer for sale (OFS). The company’s shares are expected to list on the BSE SME platform on July 23.The IPO consists of a fresh issue of 47.91 lakh shares valued at Rs 137.03 crore and an offer for sale (OFS) of 10 lakh shares, amounting to 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, which means a minimum investment of Rs 2.16 lakh for retail applicants.
Monika Alcobev has already raised Rs 46.06 crore from anchor investors, including institutional players, on July 15.
About Monika Alcobev
Founded in 2015, Monika Alcobev is a prominent importer and distributor of premium and luxury alcoholic beverages in India and neighboring markets. Its portfolio includes over 70 international brands, such as Jose Cuervo, Bushmills, and Onegin Vodka.
The company operates across India, Sri Lanka, Nepal, Maldives, and Bangladesh, catering to hotels, restaurants, retail outlets, and airport duty-free segments. With a wide distribution network, Monika Alcobev employed 191 people as of March 2025.
In FY25, Monika Alcobev reported a 25% increase in revenue and a 39% rise in net profit, with EBITDA reaching Rs 46.19 crore.
The funds raised through the fresh issue will be used for working capital needs, repayment of borrowings, and general corporate purposes.
MUFG Intime India is the registrar, while Marwadi Chandarana Intermediaries is the lead manager, and Bhansali Value Creations is the market maker.
Despite operating in a niche, high-margin space, the absence of a grey market premium and a relatively high investment threshold may restrict early retail interest. Investors will likely continue to monitor subscription data over the next two days for a clearer market sentiment.
Marwadi Chandarana Intermediaries Brokers Pvt. Ltd. serves as the book-running lead manager for the Monika Alcobev IPO, and MUFG Intime India Private Limited (Link Intime) is the registrar for the issue.
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