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Monika Alcobev lists on BSE SME; shares up 0.7%
Monika Alcobev just hit the BSE SME platform, listing its shares at ₹288—about 0.7% above its IPO price of ₹286.
The IPO got a lot of attention, with subscriptions open from July 16 to 18 and demand topping expectations at over four times the available shares.
Monika Alcobev's IPO was subscribed over 4 times
Non-institutional investors led the charge, subscribing nearly nine times their quota, while retail and institutional buyers also showed solid interest.
The ₹165 crore IPO included both new shares and an offer for sale. Most of the funds will help cover working capital needs and pay off some debt.
Before going public, Monika Alcobev raised ₹46 crore from anchor investors.
Founded in 2015, they import and distribute over 70 premium alcohol brands across India.