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People Panic Over Whiskey Making Company, IPO Gets 23.49 Times Response

Sagar Patel

By Sagar Patel

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There is complete enthusiasm among investors regarding the IPO. The special thing is that most of the IPOs have received a positive response from the stock market along with excellent subscription. Now investors have showered their love on the IPO of the whisky manufacturing company. According to stock market data, till the last day of subscription to the IPO, the company has received subscription as much as 23.49 times. Let us also tell you which company is this that has received such tremendous response?

Who subscribed to how much?

The initial public offering of Officers’ Choice whiskey maker Allied Blenders and Distillers received 23.49 subscriptions on the final day of bidding, Thursday. According to NSE data, the initial share sale worth Rs 1,500 crore received bids for 92,49,01,092 shares against the offer of 3,93,71,669 shares. The qualified institutional buyers (QIB) portion was subscribed 50.37 times, while the non-institutional investors category was subscribed 32.35 times. The retail investors (RII) share received 4.42 percent subscription.

Where will the company spend the money?

The IPO includes fresh issue of up to Rs 1,000 crore and OFS of up to Rs 500 crore. The price range of the initial sale of shares is Rs 267 to Rs 281 per share. Allied Blenders and Distillers Limited has raised Rs 449 crore from anchor (large) investors. The company will use Rs 720 crore of the proceeds from the new issue to repay debt and a portion will be used for general corporate purposes.

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stock market boom

Currently, there is a boom in the stock market. Sensex not only hit a new record high with a surge of over 2000 points in the last 4 trading days but also crossed the 79 thousand points level. On the other hand, Nifty has also had a good run-up and created history by crossing the 24 thousand points level. As per the data, a surge of about 550 points has been observed in Nifty in 4 trading days. Due to which the market capitalization of BSE touched the highest level of Rs 4,38,41,960.73 crore (US$ 5.25 billion). Investors’ wealth has increased by Rs 3.93 lakh crore in four trading sessions.

IPO rain is coming

After two years, there has been a boom in the IPO market. In the last 6 months, 33 IPOs have occurred and Rs 29 billion have been raised. According to experts, IPOs worth more than Rs 50,000 crore will happen in the next 3-4 months. In which two dozen companies are preparing to soon launch their IPO. Whose value can exceed 30 billion rupees. During this period the largest IPO in the country’s history will also arrive. This IPO will be from Hyundai India. The size of which is said to be 25 billion rupees. The documents have been submitted by the company.

Sagar Patel

Sagar Patel

I am Sagar Patel, specializing in business news reporting. With a keen focus on economic trends, market analysis, and corporate developments,

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