Allied Blenders IPO Listing Tomorrow: Here’s What GMP Indicates

Allied Blenders IPO listing is scheduled for tomorrow, Tuesday, July 2, 2024. The IPO allotment was finalized on Friday, June 28, 2024. For those who have been allocated shares, the shares will be credited to their demat accounts today, Monday, July 1. Additionally, the refund process for those who did not receive shares will also be completed today. Here’s what you need to know Allied Blenders IPO listing tomorrow.

Allied Blenders IPO Listing Tomorrow

On the final day of subscription, Thursday, June 27, Allied Blenders’ IPO received 23.49 times subscription, according to BSE data. The qualified institutional buyer (QIB) segment was oversubscribed 50.37 times, while the non-institutional investor quota saw 32.35 times subscriptions. The retail individual investor (RII) quota was oversubscribed 4.42 times, and the employee quota received 9.64 times subscriptions. The IPO, which opened on Tuesday, June 25, had a price band set between INR 267 – 281 per share.

In the Allied Blenders IPO, 15% of the shares are allocated for non-institutional investors (NII), 35% are designated for retail investors, and 50% are reserved for qualified institutional buyers (QIB). Additionally, shares are reserved for employees, who are also being offered nearly a 10% discount.

Allied Blenders IPO GMP

Investors are also considering the market opportunity and the unique premium of the largest Indian-made foreign liquor (IMFL) company about to enter the market. Consequently, there is a significant grey market premium, offering a profit potential. Let’s examine what the grey market premium (GMP) for Allied Blenders’ IPO has indicated in the past days ahead of its listing.

Over the past seven days (June 22–29), the average grey market premium (GMP) for Allied Blenders’ IPO was +68, with today’s GMP at +45. This indicates that Allied Blenders’ shares were trading at a premium of INR 45 in the grey market, according to IPOCentral’s GMP tracker. Accordingly, the anticipated listing price for Allied Blenders IPO is pegged at INR 326 per share. This figure represents a 16.01% profit from the IPO price of INR 281 per share, factoring in the upper limit of the IPO pricing range and the current premium observed in the grey market.

Recent grey market trends over the last seven sessions suggest a rising IPO GMP, hinting at a strong listing ahead. The term “Grey market premium” signifies the willingness of investors to pay a price higher than the initial offering price.

Allied Blenders IPO Details

Allied Blenders IPO subscription commenced on June 25, 2024, and concluded on June 27, 2024. The IPO aims to raise approximately INR 1,500 crores, comprising a fresh issue of INR 1,000 crore and an offer-for-sale (OFS) of INR 500 crore by the promoters and shareholders. The price band for the IPO is fixed at INR 267 – 281 per share. The market lot for Allied Blenders and Distillers IPO is 53 shares, with a minimum application amount of INR 14,893.

Allied Blenders and Distillers is the largest Indian-made foreign liquor (IMFL) company. By the end of 2023, their extensive reach spanned across India with 12 regional sales support offices and nearly 79,329 outlets. Among the few, precisely one of four spirits companies in India, they boast a comprehensive sales and distribution network nationwide. They are a domestic giant and a leading exporter of IMFL, capturing an estimated 11.8% market share in the Indian whisky segment for the fiscal year 2023.