Upcoming IPO : If you like to invest in the IPO market, then this week is a good opportunity. The IPOs of 2 companies are opening back to back on 25 June and 26 June. Through these 2 IPOs, the companies aim to raise Rs 1671 crore from the market. Among these, the IPO of Allied Blenders and Distillers will open on 25 June 2024, while the IPO of Vraj Iron and Steel Limited is opening on 26 June 2024. If you are planning to invest then it is important to know about them.
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Allied Blenders IPO
The IPO of Allied Blenders and Distillers, a company that makes whisky, brandy, gin, rum, vodka under many popular brand names including Officers Choice, will be open from June 25 to June 27. According to the company’s RHP, it is India’s largest Indian Made Foreign Liquor or IMFL making company. The size of the IPO is Rs 1500 crore. The company has fixed the price band for this from Rs 267 to Rs 281 per share. It opened for anchor investors on June 24. This IPO will be listed in the market on July 2.
Fresh equity shares worth Rs 1000 crore will be issued in the IPO, while there will be an offer for sale of Rs 500 crore. 35 per cent of the IPO is reserved for retail investors. While 50 per cent quota is reserved for qualified institutional buyers and 15 per cent for non-institutional investors. ICICI Securities Limited, Nuvama Wealth Management Limited and ITI Capital Limited are the book running lead managers for the Allied Blenders IPO, while Link Intime India Private Limited is acting as the registrar.
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Allied Blenders GMP
There is a craze in the grey market regarding the IPO of Allied Blenders. The unlisted stock of the company is trading at a premium of Rs 75 in the grey market. This premium is 27 per cent in terms of the upper price band of Rs 281. That is, compared to the issue price of Rs 281, the stock can be listed at Rs 376.
Vraj Iron & Steel IPO
The IPO of Chhattisgarh based company Vraj Iron and Steel Limited will be open from 26 June to 28 June 2024. The size of the IPO is Rs 171 crore. While the company has fixed the price band for this at Rs 195 to Rs 207 per share. Completely fresh equity shares will be issued in the IPO, there is no OFS in it. That is, the existing investors and promoters of the company are not selling a single share through Offer for Sale. On July 3, the shares of the company will be listed on the National Stock Exchange and Bombay Stock Exchange. Vraj Iron and Steel Limited manufactures steel products like sponge iron, billets and TMT bars under the Vraj brand.
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35% of the IPO is reserved for retail investors. While 50% quota is reserved for qualified institutional buyers and 15% for non-institutional investors. Retail investors can bid for a minimum of one lot i.e. 72 shares. As per the upper price band of the IPO of Rs 207, a minimum bid of Rs 14,904 will have to be made for 1 lot. At the same time, retail investors can invest a maximum of Rs 1,93,752 for a maximum of 13 lots i.e. 936 shares.
Vraj Iron And Steel GMP
There is a craze in the grey market regarding the IPO of Allied Blenders. The unlisted stock of the company is trading at a premium of Rs 40 in the grey market. This premium is 19 per cent in terms of the upper price band of Rs 207. That is, the stock can be listed at Rs 247 as compared to the issue price of Rs 207.