Monika Alcobev IPO Opens July 16 to Raise ₹153.68 Crore via BSE SME Listing

Introduction
Monika Alcobev Limited, a prominent importer and distributor of premium and luxury alcoholic beverages in India, is set to launch its Initial Public Offering (IPO) on July 16, 2025. The company plans to raise ₹153.68 crore through this IPO, combining a fresh issue of shares and an offer for sale (OFS) component. The IPO is expected to provide the company with the capital needed to fund working capital requirements, repay debt, and support general corporate purposes.

IPO Structure and Offer Details
The Monika Alcobev IPO is a book-building issue and will be listed on BSE SME. The IPO will open on July 16, 2025, and close on July 18, 2025.

The total issue size comprises 57,91,200 shares aggregating up to ₹153.68 crore. It includes:

• Fresh Issue: 47.91 lakh shares aggregating up to ₹137.03 crore

• Offer for Sale: 10 lakh shares aggregating up to ₹28.60 crore

The price band is set at ₹271 to ₹286 per share, and the lot size for retail investors is 400 shares, requiring a minimum investment of ₹2,16,800 (for 800 shares in two lots).

Anchor Investor Participation
Ahead of the public issue, Monika Alcobev secured ₹46.06 crore from anchor investors on July 15, 2025. This anchor tranche involved 16,10,400 shares. The anchor lock-in period extends 30 days for half the shares (until August 20, 2025) and 90 days for the remainder (until October 19, 2025).

IPO Reservation Details
The IPO shares are distributed across investor categories as follows:

• Market Maker: 4,17,600 shares (7.21%)

• QIB: 26,85,600 shares (46.37%)

• NII (HNI): 8,06,400 shares (13.92%)

• Retail: 18,81,600 shares (32.49%)

This balanced allocation ensures broad investor participation while also meeting regulatory requirements for SME listings.

IPO Timeline (Tentative Schedule)

• IPO Open Date: July 16, 2025

• IPO Close Date: July 18, 2025

• Allotment Date: July 21, 2025

• Refund Initiation: July 22, 2025

• Credit of Shares to Demat: July 22, 2025

• Tentative Listing Date: July 23, 2025

Investment Limits and Lot Sizes

• Retail Investors: Minimum 800 shares (2 lots) = ₹2,28,800

• sNII (Small HNI): Minimum 1,200 shares (3 lots) = ₹3,43,200

• bNII (Big HNI): Minimum 3,600 shares (9 lots) = ₹10,29,600

Company Overview
Monika Alcobev Limited, incorporated in 2015, is an importer and distributor of premium and luxury alcoholic beverages across India and neighbouring markets.

The company represents over 70 premium brands, including Jose Cuervo, Bushmills, and Onegin Vodka. Its distribution spans India, Nepal, Maldives, Sri Lanka, and Bangladesh, serving HORECA (hotels, restaurants, cafes), retail outlets, and travel retail channels.

With over 250 dedicated professionals and well-developed bonded warehouses, Monika Alcobev ensures seamless logistics, distribution, and marketing, creating premium alcobev experiences for consumers.

Competitive Strengths

• Bonded Warehouses supporting supply-chain efficiency

• Wide premium and luxury portfolio with established brands

• High entry barriers in the import liquor sector

• Long-standing customer relationships

• Experienced management team with strong industry expertise

Financial Performance
Monika Alcobev has demonstrated robust growth. Between FY24 and FY25:

• Revenue rose 25% from ₹191.28 crore to ₹238.36 crore

• Profit After Tax (PAT) increased 39% from ₹16.60 crore to ₹23.11 crore

• EBITDA improved from ₹32.14 crore to ₹46.19 crore

• Net Worth nearly doubled from ₹58.53 crore to ₹96.01 crore

Key Financial Ratios (as on March 31, 2025):

• ROE: 29.91%

• ROCE: 16.21%

• Debt/Equity: 1.81

• PAT Margin: 9.79%

• EBITDA Margin: 19.56%

• Price to Book Value: 4.94

Promoter Holding
The promoters of Monika Alcobev Limited are Bhimji Nanji Patel and Kunal Bhimji Patel.

• Pre-Issue Shareholding: 79.96%

• Post-Issue Shareholding: 62.08%

Objects of the Issue
The company plans to use the net proceeds as follows:

1. Working capital: ₹100.64 crore

2. Pre-payment or repayment of borrowings: ₹11.45 crore

3. General corporate purposes

These objectives highlight Monika Alcobev’s intent to strengthen its financial position, reduce debt burden, and fund growth in the premium liquor segment.

Book-Running Lead Manager and Registrar

• Lead Manager: Marwadi Chandarana Intermediaries Brokers Pvt. Ltd.

• Registrar: MUFG Intime India Private Limited (Link Intime)

• Market Maker: Bhansali Value Creations Private Limited

Industry Outlook
India’s alcobev industry is witnessing strong premiumisation trends, with consumers increasingly shifting toward branded, imported, and luxury offerings. High barriers to entry, regulatory complexities, and distribution challenges make it a lucrative market for established players with solid logistics and relationships.

Monika Alcobev, with its wide portfolio and pan-India presence, is well positioned to capitalize on these trends.

Anchor Investors’ Vote of Confidence
The successful ₹46.06 crore anchor round suggests significant institutional confidence in the company's growth potential and strategic roadmap.

Risks and Considerations

• Highly regulated industry with complex licensing norms

• Sensitivity to changes in government policy and taxation

• Dependence on imported brands and foreign partnerships

• Currency risk due to import payments

• Competitive pressures from local and international players

Conclusion
The Monika Alcobev IPO represents a significant opportunity for investors looking to tap into India’s premium and luxury alcoholic beverages segment. With strong financial performance, an expansive brand portfolio, and a clear growth strategy, the company is seeking to solidify its leadership in a market with high entry barriers and rising consumer demand.

The proceeds will strengthen working capital, reduce debt, and support growth initiatives, positioning Monika Alcobev for long-term success.

Prospective investors should carefully review the RHP, understand the risks, and consider their investment horizon before applying. For more detailed information, refer to Monika Alcobev IPO RHP available online.

Invest wisely to make the most of this promising IPO in India’s evolving alcobev landscape.

Disclaimer:

This article is intended for informational and educational purposes only and does not constitute investment advice. Readers are advised to consult their financial advisor before making any investment decisions. Investments in securities are subject to market risks. Please read all related documents carefully before applying for the IPO. The data provided is based on publicly available information and may be subject to change.

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