Monika Alcobev IPO to Open on 16th July

Mumbai, 15 July 2025: Monika Alcobev Limited, a luxury alcoholic beverage importer and distributor, will open its Initial Public Offering (IPO) for public subscription on Wednesday, 16 July 2025. The issue will remain open until Friday, 18 July 2025, and the company plans to list its shares on the BSE SME platform. The total IPO size stands at ₹165.63 crore, combining both fresh equity and offer for sale components.

Fresh Issue and Offer for Sale Comprise the ₹165.63 Crore Public Offering

Monika Alcobev IPO is a book-built issue, offering a total of 57,91,200 equity shares. Of this, 47.91 lakh shares (worth ₹137.03 crore) form the fresh issue, while 10 lakh shares (worth ₹28.60 crore) are part of the offer for sale by existing shareholders.

The price band for the issue has been set at ₹271 to ₹286 per share, with a face value of ₹10 per share. Investors can apply in lots of 400 shares, with a minimum application size of 2 lots (800 shares) for retail individuals, amounting to ₹2,28,800 at the upper price band.

Key Details:

• Issue Opens: 16 July 2025

• Issue Closes: 18 July 2025
• Price Band: ₹271 to ₹286 per share
• Lot Size: 400 shares
• Total Issue Size: ₹165.63 crore** (57,91,200 shares)

Reserved for Market Maker:

• 4,17,600 shares
• Aggregating up to ₹11.94 crore
• Market Maker: Bhansali Value Creations Private Limited

Fresh Issue (excluding Market Maker portion):

• 43,73,600 shares
• Aggregating up to ₹125.08 crore

Offer for Sale (OFS):

• 10,00,000 shares of ₹10 each
• Aggregating up to ₹28.60 crore

Net Offered to Public:

• • 53,73,600 shares
  • Aggregating up to ₹153.68 crore
• Lead Manager: Marwadi Chandarana Intermediaries Brokers Pvt. Ltd.
• Registrar: MUFG Intime India Pvt. Ltd. (Link Intime)
• Market Maker: Bhansali Value Creations Pvt. Ltd.

Anchor Investors Commit ₹46.06 Crore Ahead of Main Issue

On 15 July 2025, Monika Alcobev secured ₹46.06 crore from anchor investors. A total of 16,10,400 equity shares were allotted under this anchor allocation. As per SEBI norms, 50% of these shares will remain under lock-in until 20 August 2025, while the remaining half will be locked in until 19 October 2025.

Share Allocation Spread Across Investor Categories

The IPO offers shares to different investor classes, including institutional buyers, retail investors, and high-net-worth individuals. The allocation is structured as follows:

• Qualified Institutional Buyers (QIB): 26,85,600 shares (46.37%)
• Retail Individual Investors (RII): 18,81,600 shares (32.49%)
• Non-Institutional Investors (HNI): 8,06,400 shares (13.92%)
• Market Maker Portion: 4,17,600 shares (7.21%)

Bidding limits for each investor category have been defined. Retail investors are allowed to apply for a maximum of 2 lots (800 shares), while sNII can bid for 3–8 lots and bNII must bid for 9 lots or more. Cut-off price bidding is not permitted in any category.

Listing Timeline and Post-Issue Process

The tentative basis of allotment will be finalised on Monday, 21 July 2025. Refunds and credit of shares to demat accounts are expected by Tuesday, 22 July 2025. The tentative listing date on the BSE SME platform is set for Wednesday, 23 July 2025.

Financial Performance Shows Robust Growth in FY 2025

Monika Alcobev reported a 25% increase in revenue and a 39% rise in profit after tax (PAT) in FY 2025 compared to the previous fiscal year. The company’s financial position shows strong operating margins and a growing asset base.

Key Financial Highlights (₹ in crore):

• Revenue (FY 2025): ₹238.36
• Profit After Tax (FY 2025): ₹23.11
• EBITDA (FY 2025): ₹46.19
• Assets (FY 2025): ₹323.89
• Net Worth: ₹96.01
• Total Borrowing: ₹174.10

The company’s market capitalisation stands at ₹613.47 crore. Its pre-issue EPS is ₹13.87, while the post-issue EPS is projected at ₹10.78, translating to a price-to-earnings ratio (P/E) of 20.61 pre-issue and 26.54 post-issue.

IPO Proceeds Allocated to Working Capital and Debt Reduction

According to the Red Herring Prospectus (RHP), Monika Alcobev intends to use the net proceeds of the IPO for:

1. Funding working capital requirements – ₹100.64 crore
2. Pre-payment or repayment of borrowings – ₹11.45 crore
3. General corporate purposes – remaining balance

Promoter Holding to Decline Post-IPO Completion

The company is promoted by Bhimji Nanji Patel and Kunal Bhimji Patel. Their shareholding is expected to reduce post-IPO, as follows:

• Pre-Issue Promoter Holding: 79.96%
• Post-Issue Promoter Holding: 62.08%

Company Background Highlights Regional Footprint and Brand Portfolio

Founded in 2015, Monika Alcobev Limited is engaged in importing and distributing premium alcoholic beverages across India and the Indian subcontinent, including Nepal, Sri Lanka, the Maldives, and Bangladesh. The company’s portfolio includes more than 70 global brands, such as Jose Cuervo, Bushmills, and Onegin Vodka, spanning categories like spirits, liqueurs, and wines.

The firm serves a broad customer base, including the HORECA (hotels, restaurants, cafés) segment, retail outlets, and travel retail. With a team of over 250 professionals, Monika Alcobev manages warehousing, logistics, and nationwide distribution. As of 31 March 2025, it employed 191 full-time staff

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