Allied Blenders and Distillers IPO Listing Today: Experts Predict Strong Start with Up to 15% Gain | Stock Market News
The shares of Allied Blenders and Distillers Limited are set to be listed on the stock market today, 2nd July 2024. According to the BSE website, the company’s equity shares will be available for trading from 10:00 AM today, under the ‘B’ group of securities. Ahead of the listing, the company’s shares are trading at a premium of ₹41 in the grey market, indicating a positive start with up to a 15% premium. Experts predict the stock may list between ₹315 and ₹333.
IPO Listing Price Predictions
Amit Goel, Co-Founder & Chief Global Strategist at Pace 360, highlighted the strengths of Allied Blenders and Distillers, known for its whisky, brandy, rum, and vodka in the Indian-made foreign liquor (IMFL) segment. The company has around 11.8% of the Indian whisky market share for FY23 and also sells packaged drinking water under brands like Officer’s Choice and Sterling Reserve. Goel expects the IPO listing price to be between ₹315 to ₹320 per share, offering a listing gain of about 12%.
Parth Shah, Research Analyst at StoxBox, predicts a 15% premium listing. He noted that Allied Blenders and Distillers is a major player in the Indian liquor market, with a wide range of alcoholic beverages and a strong sales and distribution network across India. The company is also a leading exporter of IMFL. Shah points out that India is one of the fastest-growing alcoholic beverage markets globally, with a per capita alcohol consumption of 3.2 litres in 2023.
VLA Ambala, a SEBI-registered Research Analyst and Founder of Stock Market Today, expects a premium listing of 7% to 13%. Ambala mentioned that Allied Blenders’ total borrowings reduced from ₹954.74 crores to ₹798.11 crores, while its profit after tax (PAT) improved from 2.51% to 4.23%. Despite a 1.27% decline in revenue, the company’s PAT increased by 8.47% from March 31, 2022, to March 31, 2023.
Grey Market Premium (GMP)
The grey market premium for Allied Blenders and Distillers’ IPO today is ₹41, suggesting that the IPO listing price might be around ₹322 (the issue price of ₹281 plus the GMP of ₹41).
Conclusion
Overall, experts are optimistic about the listing of Allied Blenders and Distillers, expecting it to debut with a notable premium. The positive market sentiment and the company’s strong market presence are likely to attract investors, leading to a successful listing day.
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