Allied Blenders and Distillers share price makes a positive debut, stock opens with 14% premium at ₹320 apiece on NSE

Allied Blenders and Distillers share price made a positive debut on the bourses today. On NSE, Allied Blenders and Distillers share price opened at ₹320 per share, 13.88% higher than the issue price of ₹281. On BSE, Allied Blenders and Distillers share price today opened at ₹318.10 apiece, up 13.20% than the issue price.

Market experts anticipated Allied Blenders and Distillers share price to open in the range of ₹315 to ₹333 apiece.

On Thursday, the last day of bidding, Allied Blenders and Distillers IPO subscription status was 23.49 times. The section designated for Qualified Institutional Buyers (QIBs) received 50.37 subscriptions, whilst the non-institutional investor category received 32.35 subscriptions. 4.42 subscriptions were made to the retail investors section.

Also Read: Allied Blenders and Distillers IPO listing date today. GMP, experts see positive debut of shares

With a face value of ₹2, each equity share in the Allied Blenders and Distillers IPO, which concluded on Thursday, June 27, had a price band between ₹267 and ₹281. The company announced that it gathered ₹449 crore from anchor investors one day before its first share sale opened for public subscription.

Allied Blenders and Distillers is an international liquor company that was established in 2008 and is manufactured in India. The company offers vodka, rum, brandy, and whiskey—four international alcoholic beverages made in India. Additionally, they sell drinking water in packets under the Officer's Choice, Sterling Reserve, and Officer's Choice Blue labels.

With the introduction of Officer's Choice whiskey in 1988, the firm made its foray into the mass premium whiskey market. From 2016 to 2019, it ranked among the whiskey brands with the largest global sales volumes annually.

Also Read: Allied Blenders and Distillers IPO day 3: GMP, subscription status to review. Should you apply as bidding ends today?

Allied Blenders and Distillers IPO details

Allied Blenders IPO, which is worth ₹1,500 crore, comprises a fresh issue of ₹1,000 crore, and an offer-for-sale (OFS) of ₹500 crore worth equity shares by the promoters and other investors.

Promoters Resham Chhabria Jeetendra Hemdev and Bina Kishore Chhabria will offload the shares in the OFS.

Link Intime India Private Limited is the registrar for the Allied Blenders IPO, while Iti Capital Ltd, Nuvama Wealth Management Limited, and ICICI Securities Limited are the book running lead managers.

Also Read: Allied Blenders and Distillers IPO share allotment finalised: How to check status? A step-by-step guide

Allied Blenders and Distillers IPO GMP today

Allied Blenders IPO GMP today is +59. This indicates Allied Blenders and Distillers share price were trading at a premium of ₹59 in the grey market, according to investorgain.com.

The anticipated listing price for Allied Blenders' IPO was suggested at ₹340 per share, which is 21% more than the IPO price of ₹281, taking into account the top end of the IPO pricing band and the present premium on the grey market.

According to investorgain.com experts, IPO GMP is heading upward and is expected to have a solid listing based on the previous 19 sessions of grey market activity.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Allied Blenders and Distillers IPO: Issue subscribed 51% on Day 1; check GMP, other key details

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.