Monika Alcobev's IPO achieves success on opening day
Monika Alcobev, the wine and spirits distributor, kicked off its IPO this week and saw solid interest right away—subscriptions crossed 1.3 times on day one.
The offer is open till Friday with shares priced between ₹271-₹286, but you'll need at least ₹2.16 lakh to get in.
How the numbers pan out
Most of the buzz came from non-institutional investors, who snapped up over four times their quota; big institutional buyers also joined in, though retail investors seemed less interested at just 27% subscription.
Even with all that demand, shares were trading flat at ₹286 in the gray market—so don't expect a huge listing pop.
The funds raised will help Monika Alcobev cover working capital needs and pay down debt as it continues distributing major international alcohol brands across India.