Monika Alcobev is a leading player in the imported liquor sector, offering a diverse portfolio of premium and luxury alcoholic beverages. The Company specialises in importing, sales, distribution, and marketing for luxury spirits, wines, and liqueurs throughout India and the Indian Subcontinent including Travel Retail Duty Free Shop. It provides complete supply chain solution through its robust distribution network.

Monika Alcobev, an Book Built Issue, amounting to ₹ 165.63 Crores, consisting an Fresh Issue of 47.91 Lakh Shares worth ₹ 137.02 Crores and an Offer for Sale of 10.00 Lakhs Shares totaling to ₹ 28.6 Crores. The subscription period for the Monika Alcobev IPO opens on July 16, 2025, and closes on July 18, 2025. The allotment is expected to be finalized on or about Monday, July 21, 2025, and the shares will be listed on the BSE SME with a tentative listing date set on or about Wednesday, July 23, 2025.

The Share Price Band of Monika Alcobev IPO is set at ₹ 271 to ₹ 286 per equity share. The Market Capitalisation of the Monika Alcobev at IPO price of ₹ 286 per equity share will be ₹ 613.46 Crores. The lot size of the IPO is 400 shares. Individual investors are required to invest a minimum of 2 lots (800 shares), amounting to ₹ 2,28,800.

Marwadi Chandarana Intermediaries Brokers Private Limited is the book running lead manager of the Monika Alcobev, while MUFG Intime India Private Limited (formerly known as Link Intime India Private Limited) is the registrar for the issue. Bhansali Value Creations Private Limited is the Market Mkaer for Monika Alcobev IPO.

Monika Alcobev Limited IPO GMP Today
The Grey Market Premium of Monika Alcobev IPO is expected to be ₹ 24 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.

Monika Alcobev Limited IPO Live Subscription Status Today: Real-Time Update
As of 11:30 AM on 16 July, 2025, the Anthem Biosciences Limited IPO live subscription status shows that the IPO subscribed 0.66 times on its First Day of subscription period. Check the Anthem Biosciences IPO Live Subscription Status Today at BSE.

Monika Alcobev IPO Anchor Investors Report
Monika Alcobev Biosciences has raised ₹ 46.05 Crores from Anchor Investors at a price of ₹ 286 per shares in consultation of the Book Running Lead Managers. The company allocated 16,10,400 equity shares to the Anchor Investors. Check Full List of Monika Alcobev Anchor Investor List.

Note:- Equity Shares allotted to Anchor Investors (if any) are allotted from Qualified Institutional Buyers (QIBs) reservation portion.
Note:- The Number of shares offered shown IPO subscription section table is calculated at the lower end of the price band and Number of shares calculated in IPO details table section is calculated at upper end of the price band in case of Book Building Issue, so there can be difference. This is because we assume shares will be issued by the company at upper band as Anchor Investors also subscribe at upper band and shares will be issued at lower band only if in case of undersubscription of IPO.
Note:- Market Maker portion (if any) are not shown separately in subscription table and included in NIIs reservation portion.

Monika Alcobev Limited Day Wise IPO GMP Trend

Date	IPO Price	Expected Listing Price	GMP	Last Updated
14 July 2025	₹ 286	₹ 310	₹ 24 (8.39%)	02:00 PM; 14 July 2025

Monika Alcobev Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online
Monika Alcobev IPO allotment date is 21 July, 2025, Monday. Monika Alcobev IPO Allotment will be out on 21st July, 2025 and will be live on Registrar Website from the allotment date. Check Monika Alcobev IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Monika Alcobev Limited IPO from the dropdown list of IPOs
- Enter your application number, PAN, or DP Client ID
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.

Objectives of Monika Alcobev Limited IPO
Monika Alcobev to utilise the Net Proceeds towards the following objects: 
1. ₹ 10,063.83 Lakhs is required for funding working capital requirements of the Company;
2. ₹ 1,145.00 Lakhs is required for pre-payment or repayment of certain outstanding borrowings availed by the Company from Banks/ Financial Institutions;
3. General Corporate Purposes

Refer to Monika Alcobev Limited RHP for more details about the Company.

Check latest IPO Review & analysis, Live IPO GMP today, Live IPO Subscription Status Today, Share Price, Financial Information and other details before applying in the IPO.

The Upcoming IPOs in this week and coming weeks are Monika Alcobev, NSDL, Anthem Biosciences, Spunweb Nonwoven.

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About Monika Alcobev Limited

BUSINESS OVERVIEW

Monika Alcobev is a leading importer and distributor of premium and luxury alcoholic beverages across India and the Indian Subcontinent, including Travel Retail Duty Free. The company specializes in import, sales, distribution, and marketing of high-end spirits, wines, and liqueurs, offering an end-to-end supply chain solution supported by a robust distribution network.

Founded by Bhimji Nanji Patel and currently led by Managing Director Kunal Bhimji Patel, Monika Alcobev has played a pivotal role in reshaping the alco-beverage landscape in the region.

The company holds exclusive selling rights for over 70 globally renowned brands in India and surrounding countries. These include Jose Cuervo (Tequila), Bushmills (Irish Whisky), Rémy Martin (Cognac), Cointreau (Liqueur), Choya (Liqueur), and Belenkaya (Vodka), with the highest realization per case at INR 17,017.

According to Technopak Report, Monika Alcobev commands:

• 19.0% share in tequila imports

• 7.5% share in liqueur imports

• 1.9% share in gin and geneva imports

• 12.3% share in rum imports (largest importer in the segment)

The company operates in over 20 Indian states and Union Territories, while also servicing Nepal, Sri Lanka, and the Maldives, making it one of the most geographically diversified alco-beverage importers in the region.

Monika Alcobev's competitive edge lies in its strategic alliances with global brands, its exclusive Letter of Authorisation (LOA) rights, and its deep understanding of regional consumer preferences. Its curated portfolio enables targeted brand positioning and market expansion, tailored for Indian and Subcontinental tastes.

The company serves HORECA, retail, embassies, ship stores, and travel retail channels, offering access to a broad spectrum of luxury beverages catering to diverse consumer segments.

Supporting its operations are six strategically located warehouses in Maharashtra, Karnataka, Delhi, and Haryana, with a master warehouse at Nhava-Sheva, Mumbai, enabling efficient logistics across regulatory boundaries. Its strong supply chain and logistics expertise underpins its ability to meet demand across varied and complex markets. As on March 31, 2025, they had 196 full-time employees. The Bankers to the company are ICICI Bank Limited, HDFC Bank Limited, Kotak Mahindra Bank Limited, Indusind Bank, Union Bank of India, CSB Bank Limited and Deutsche Bank.

INDUSTRY ANALYSIS

 Overview of the Indian Alco-Beverage Market

Dominance of Distilled Beverages

India remains a predominantly distilled alcohol market, with over 82% of pure alcohol consumption in FY 2024 attributed to distilled spirits. This sharply contrasts with mature markets such as the US and Europe, where beer and wine—both undistilled—command a larger share.

While the acceptance of beer and wine is growing in India, spirits continue to dominate, particularly strong beer and fortified wines with higher alcohol content.

• The Indian alco-beverage market was valued at INR 3,25,500 Crores in FY 2024, having grown at a CAGR of 8.0% since FY 2019. It is projected to reach INR 5,04,900 Crores by FY 2029, growing at a 9.2% CAGR.

• The distilled segment, valued at INR 2,66,910 Crores in FY 2024, is expected to grow at 8.4% CAGR to INR 3,98,871 Crores by FY 2029.

• The undistilled segment, currently at INR 58,590 Crores, is projected to expand at a faster 12.6% CAGR, reaching INR 1,06,029 Crores, reflecting increasing consumer preference for beer and wine.

Volume Growth Trends

The market reached 1,157 million cases in FY 2024, growing at a CAGR of 2.7% since FY 2019. This is expected to accelerate to a 4.3% CAGR, with the market reaching 1,429 million cases by FY 2029.

• Distilled beverages represent 66% of volume, growing modestly at 1.5% CAGR (FY 2019–24), but expected to improve to 3.7% CAGR till FY 2029.

• Undistilled beverages have grown faster at 5.3% CAGR, and are projected to continue at 5.5% CAGR, driven by premiumization and changing consumer preferences.

Market Segmentation by Price

Premiumization Gains Traction

Traditionally price-sensitive, the Indian alco-beverage market is witnessing a shift towards premium and luxury products, driven by:

• A large legal drinking-age population (951 million)

• Rising urbanization and incomes

• Exposure to global consumption patterns

As of FY 2024:

• The value segment (popular + prestige) contributes 91% of market value, while premium and luxury make up 9%.

• By FY 2029, the premium/luxury share is expected to rise to 10%, growing at CAGRs of 16.7% (premium) and 11.5% (luxury) to reach INR 50,000 Crores.

• Popular and prestige segments will grow at 8.9% and 8.5% CAGR, respectively, reaching INR 4,52,155 Crores.

In volume terms, premium and luxury beverages currently account for just 2.2% (26 million cases), projected to grow to 3% (43 million cases) by FY 2029.

Market Segmentation by Beverage Type

Spirits Dominate, but Wine Emerges as Fastest-Growing Category

• Spirits account for over 83% of total market value, standing at INR 2,66,400 Crores in FY 2024, expected to reach INR 3,97,600 Crores by FY 2029 at 8.3% CAGR.

  • Domestic spirits contribute 98% of total spirits consumption.

  • Imported spirits are rising, from 1.7% (2019) to 2.0% (2024), and expected to reach 2.3% by 2029.

• Beer and other beverages hold a 17% market share, while wine contributes just 1% at INR 36,000 Crores, but:

  • Wine is growing fastest, at 13.0% CAGR (2019–24), and expected to accelerate to 17.6% CAGR, reaching INR 7,200 Crores by FY 2029.

In volume:

• Spirits: 767 million cases (66.3%)

  • IMFL: 420 million

  • Country liquor: 355 million

• Beer and others: 386 million cases (33.4%)

• Wine: 3.3 million cases (0.3%)

Distribution Channels

Off-Trade Leads, On-Trade Gaining Momentum in Premium Segments

• Domestic spirits: 85–90% sold via off-trade (retail), 10–15% in bars/restaurants.

• Imported spirits: 40–45% consumed on-trade, driven by luxury positioning and premium experiences.

• Beer: 75–80% off-trade; 20–25% on-trade.

• Wine: Balanced—65–70% off-trade, 30–35% on-trade.

Urbanization, rising incomes, and cocktail culture are enhancing on-trade growth, especially for premium imports.

Import Trends by Country

Imported Spirits (FY 2024: INR 6,120 Crores)

• UK: 74.9% (dominated by Scotch whisky)

• USA: 4.6%

• France & Ireland: 3.7% each

• Mexico: 2.7% (tequila)

Imported Wines (FY 2024: INR 406 Crores)

• Australia: 28.8%

• France: 26%

• Italy: 14.2%

• UK: 6.4%

• Chile: 5.2%

The remaining share reflects rising diversity in wine preferences and global exposure.

Premium & Luxury Market Performance

Overall Premium & Luxury Segment

• Market value increased from INR 12,291 Crores (2019) to INR 28,751 Crores (2024).

• Projected to reach INR 50,000 Crores by 2029, at 11.7% CAGR (2024–29).

• Share of total market is rising—from 5.6% (2019) to 8.8% (2024), expected to hit 10% by 2029.

Drivers include rising incomes, social drinking culture, and a growing young population influenced by global trends and digital media.

Premium & Luxury Wine Segment

• Market grew from INR 1,023 Crores (2019) to INR 2,257 Crores (2024); expected to reach INR 5,521 Crores by 2029.

• Domestic wines dominate with 65% share (2024) but will reduce slightly to 60% by 2029.

  • Value: From INR 678 Crores (2019) to INR 3,312 Crores (2029) at ~17.8% CAGR

• Imported wines: Share rising from 34% (2019) to 40% by 2029

  • Value: From INR 345 Crores (2019) to INR 1,325 Crores (2029)

Leading Importers in Bottled-in-Origin (BIO) Wines

• Pernod Ricard: 23.6%

• Moet Hennessy: 8.3%

• Others include:

  • Aspri Spirits (5.6%)

  • Vinopolis Wines (4.5%)

  • Wine Park (3.6%)

  • Monika Alcobev (3.2%)

  • Artisan Spirits, Sonarys, Anggels Share, and Gusto Imports

Monika Alcobev and others are playing a key role in expanding India's access to global wine labels, meeting growing demand for premium, diverse selections.

BUSINESS STRENGTHS

1. Strategic Bonded Warehousing for Supply Chain Efficiency
Bonded warehouses located in Maharashtra, Delhi, Haryana, and Karnataka provide significant operational advantages. These custom-approved facilities allow staggered duty payments, enabling partial clearance of imported goods, optimizing working capital and enhancing logistics flexibility.

2. Leading Portfolio of Premium & Luxury Brands
One of the leading players in India’s imported liquor sector, Monika Alcobev manages a diversified portfolio of over 70 globally renowned brands, including Jose Cuervo, Bushmills, Rémy Martin, Cointreau, Choya, Laurent-Perrier, and Belenkaya.

3. High Entry Barriers in the Industry
Operating in a highly regulated industry with complex licensing, international sourcing, and distribution challenges, the company benefits from significant entry barriers, ensuring sustained competitive advantage.

4. Experienced Leadership
Promoted by Bhimji Nanji Patel and Kunal Bhimji Patel, the management brings over 30 years of industry experience, driving consistent growth and market leadership.

5. Exclusive Rights & Full-Spectrum Brand Management
Holds exclusive selling rights for more than 70 premium and luxury alcohol brands across India and the Indian Subcontinent, handling import, distribution, pricing, strategic planning, brand development, and marketing—providing end-to-end brand lifecycle support.

BUSINESS STRATEGIES

1. Category Expansion for Growth
Growth is driven by strategic entry into new product categories through partnerships with both established and emerging international brands. These collaborations enable the introduction of diverse products aligned with evolving consumer preferences across premium, luxury, and emerging alco-beverage segments in India and the Indian Subcontinent.

2. Wider and Deeper Distribution Network
Expansion of the retail footprint across liquor stores, supermarkets, and additional points of sale is a key focus. The strategy includes targeting underrepresented regions and strengthening presence in Tier 1 and Tier 2 cities to enhance market penetration and consumer accessibility.

3. State-Level Product Expansion
With a strong presence in all Tier 1 cities, efforts are concentrated on increasing the product range within existing states. This includes leveraging established distribution infrastructure to improve availability across retail and on-trade channels in key urban markets.

4. Talent Retention and Performance Culture
Human capital is a strategic priority, with continued emphasis on attracting, developing, and retaining experienced professionals. The company aims to foster a performance-driven culture to support sustained growth and operational excellence.

BUSINESS RISK FACTORS & CONCERNS

1. Dependence on Key Suppliers
Long-standing relationships with international manufacturers are critical for consistent supply of imported spirits and wines. Any disruption in supply, price hikes, or inability to secure new supplier relationships may adversely impact business operations and profitability.

2. High Revenue Concentration in Whisky and Tequila
A significant portion of revenue—71.97% in FY 2025, 65.77% in FY 2024, and 59.33% in FY 2023—is derived from whisky and tequila sales. A decline in demand or inability to sustain sales in these categories could materially affect financial performance and growth prospects.

3. Exposure to Changing Consumer Preferences
The alco-beverage industry is highly susceptible to shifts in consumer tastes, cultural trends, and economic factors. Failure to adapt to evolving preferences may lead to reduced demand and loss of market relevance.

4. Advertising Restrictions in India
Advertising of alcoholic beverages is restricted under the Cable Television Networks (Regulation) Amendment Act, 2002 and related rules, limiting the ability to market products via traditional media. This regulatory environment constrains brand visibility and promotional activities.

Monika Alcobev operates in a dynamic and highly regulated industry, where dependence on key products, suppliers, and shifting consumer preferences pose potential risks. Regulatory constraints on advertising and high reliance on specific product categories further increase operational vulnerability.