Allied Blenders shares list at 13.8% premium over offer price
Allied Blenders and Distillers, after a successful IPO, intends to use ₹720 crore from the fresh issue to repay outstanding borrowings and for general corporate purposes. The company's strategic financial decisions align with its growth objectives...
By ET Bureau |
ETMarkets.com
Mumbai: Shares of Allied Blenders and Distillers listed on Tuesday at ₹320 apiece, a premium of 13.8% over its issue price of ₹281. The stock recorded a high of ₹324.8 and closed at ₹317. The market capitalisation of the company stood at ₹8,891 crore at Tuesday's close.
The ₹1,500-crore public issue was subscribed 23.55 times last week, with investors bidding for 92.71 crore shares against the offer size of 3.93 crore shares. The IPO consisted of a fresh issue of ₹1,000 crore and an offer for sale of ₹500 crore.
The company plans to use the proceeds from the fresh issue worth ₹720 crore for repayment of outstanding borrowings and general corporate purposes. - Our Bureau
The ₹1,500-crore public issue was subscribed 23.55 times last week, with investors bidding for 92.71 crore shares against the offer size of 3.93 crore shares. The IPO consisted of a fresh issue of ₹1,000 crore and an offer for sale of ₹500 crore.
The company plans to use the proceeds from the fresh issue worth ₹720 crore for repayment of outstanding borrowings and general corporate purposes. - Our Bureau
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