Monika Alcobev IPO Opens Without GMP Buzz, But Fundamentals Draw Interest

IPO Launch Overview

 

Monika Alcobev, a leading importer and distributor of premium alcoholic beverages, has opened its Rs 165.63 crore initial public offering for subscription today. The IPO, which will close on July 18, 2025, is being closely watched by market participants, especially as there is no visible grey market premium (GMP) ahead of the launch, signaling muted pre-listing excitement.

 

Key Highlights

 

The IPO consists of a fresh issue of 47.91 lakh shares worth Rs 137.03 crore and an offer for sale of 10 lakh shares aggregating Rs 28.60 crore by existing shareholders.

 

The price band is set at Rs 271 to Rs 286 per share.

 

Investors can bid in lots of 400 shares, with a minimum investment of approximately Rs 2.16 lakh for retail applicants.

 

The company has already raised Rs 46.06 crore from anchor investors, including institutional players, on July 15.

 

The shares are proposed to be listed on the BSE SME platform, with a tentative listing date of July 23, 2025.

 

About Monika Alcobev

 

Monika Alcobev is engaged in the import, distribution, and marketing of luxury spirits, wines, and liqueurs, representing over 70 international brands such as Jose Cuervo, Bushmills, Rémy Martin, and Cointreau.

 

The company serves hotels, restaurants, cafes, retail outlets, embassies, ship stores, and travel retail across India and neighboring countries.

 

It operates six warehouses nationwide, with the main facility in Mumbai.

 

Financial Performance

 

Revenue for FY25 stood at Rs 238.36 crore, up from Rs 191.28 crore in FY24.

 

Profit after tax rose to Rs 23.11 crore in FY25 from Rs 16.60 crore in FY24.

 

The company’s assets increased to Rs 323.89 crore, reflecting ongoing business expansion.

 

Market Sentiment

 

Despite strong financials and anchor investor interest, the absence of a grey market premium suggests a cautious approach from informal investors.

 

The IPO is being closely monitored for subscription trends and listing performance.

 

Sources: Economic Times, Chittorgarh, IPOWatch, Groww, InvestorGain, Alice Blue, HDFC Sky