Allied Blenders IPO Allotment: Step-by-Step guide to check status

Allied Blenders and Distillers is set to finalise the allotment of its shares on Friday, June 28.

Bidders will receive notifications regarding the debit of their funds or revocation of their IPO mandate by Friday or, at the latest, by Monday, July 1.

The IPO garnered a decent response from investors.

How to Check Allotment Status on BSE:

Visit BSE IPO Allotment Status.

Select "Equity" under the issue type.

Choose "Allied Blender and Distillers Limited" from the issue name dropdown.

Enter your application number.

Enter your PAN card ID.

Verify by clicking "I am not a Robot" and submit.

On Link Intime India Portal:

Visit Link Intime IPO Allotment Status.

Select the IPO name once allotment is finalized.

Choose the mode of search: Application number, Demat Account number, or PAN ID.

Select your application type (ASBA or non-ASBA).

Enter the required details.

Complete the captcha and submit.

Link Intime India, a SEBI-registered entity, handles the electronic processing of applications and the allotment process. They ensure timely credit of shares, dispatch of refunds, and address investor queries post-issue.

IPO details

Bidding dates: June 25 - June 27

Price band: Rs 267-281 per share

Lot size: 53 shares

Total raised: Rs 1,500 crore

Fresh share sale: Rs 1,000 crore

Offer-for-Sale (OFS): Up to 1,77,93,594 shares

Shares will be listed on BSE and NSE, tentatively on Tuesday, July 2.

The IPO was significantly oversubscribed, with an overall subscription rate of 23.55 times. The quota for qualified institutional bidders (QIBs) was subscribed 50.37 times, non-institutional investors 32.40 times, retail investors 4.51 times, and employees 9.89 times.

Grey market premium

The grey market premium (GMP) for Allied Blenders and Distillers has corrected sharply post-bidding. Initially commanding a premium of Rs 90 per share, it now stands at Rs 55-60, suggesting a listing gain of about 20-22%.

Company overview

Incorporated in 2008, Allied Blenders and Distillers is an Indian-made foreign liquor (IMFL) company. The company offers whisky, brandy, rum, vodka, and gin, along with packaged drinking water under the brands Officer's Choice, Officer's Choice Blue, and Sterling Reserve.

Brokerage recommendations

Brokerage firms generally recommend subscribing to the IPO due to the company's premium product range, market growth, strong category presence, and rising demand. However, aggressive valuations and recent losses have caused some analysts to remain cautious.