Monika Alcobev Limited, a major name in the imported liquor and luxury spirits sector, is launching its Initial Public Offering (IPO) worth ₹165.63 crores, opening from July 16 to July 18, 2025. The IPO structure comprises a Fresh Issue of ₹137.02 crores and an Offer for Sale (OFS) of ₹28.6 crores. This IPO is poised to capture investor attention with promising financials, robust growth, and a moderate Grey Market Premium (GMP) indicating healthy listing prospects.

About the Company:

Monika Alcobev is among India’s top players in the imported alcohol distribution segment, offering an extensive portfolio of premium and luxury beverages, including wines, liqueurs, and spirits. With a pan-India presence, the company services hotels, restaurants, bars, and travel retail duty-free shops, leveraging a strong distribution and logistics ecosystem.

Their operations span across:

• Sales and marketing of imported liquor brands

• Supply chain management and inventory control

• Retail and institutional distribution in the Indian subcontinent

Led by industry veterans Bhimji Nanji Patel and Kunal Bhimji Patel, the management team brings over 30 years of experience in the alcohol and beverages industry.

IPO Details at a Glance:

Book Running Lead Manager & Registrar:

• Lead Manager: Marwadi Chandarana Intermediaries Brokers Pvt Ltd

• Registrar: MUFG Intime India Pvt Ltd (formerly Link Intime)

• Market Maker: Bhansali Value Creations Pvt Ltd

Anchor Investor Participation:

On July 15, 2025, Monika Alcobev raised ₹46.05 Crores from anchor investors by allocating 16,10,400 equity shares at ₹286 per share, indicating strong institutional interest.

Grey Market Premium (GMP) Update:

• Date: July 14, 2025

• IPO Price: ₹286

• GMP: ₹24

• Expected Listing Price: ₹310

• Listing Gain: 8.39%

The GMP reflects a healthy sentiment in the grey market, although it remains unofficial and speculative.

Financial Performance Overview:

Revenue from Operations:

• FY23: ₹14,035.84 Lakh

• FY24: ₹19,127.64 Lakh

• FY25: ₹23,835.61 Lakh

EBITDA:

• FY23: ₹2,525.34 Lakh

• FY24: ₹3,422.06 Lakh

• FY25: ₹4,972.71 Lakh

Profit After Tax (PAT):

• FY23: ₹1,302.56 Lakh

• FY24: ₹1,659.63 Lakh

• FY25: ₹2,311.35 Lakh

The company has demonstrated consistent and healthy growth in top-line and bottom-line performance over the last three fiscal years.

Key Ratios and Valuation:

These figures indicate a fairly priced IPO relative to earnings, with strong return ratios and solid growth momentum.

IPO Objectives:

Monika Alcobev intends to utilize the net proceeds from the IPO as follows:

1. ₹10,063.83 Lakhs for working capital requirements

2. ₹1,145.00 Lakhs for pre-payment or repayment of borrowings

3. Balance for general corporate purposes

This fund allocation suggests a focus on liquidity, debt reduction, and enhancing business scalability.

Allotment and Listing:

• Allotment Date: July 21, 2025

• Listing Date (Tentative): July 23, 2025

How to Check Allotment:

1. Visit the IPO allotment status page on MUFG Intime India’s website

2. Select Monika Alcobev Limited IPO

3. Enter PAN/Application Number/DP Client ID

4. Submit to check allotment status

Investment Recommendation:

Given the following:

• Robust revenue and profit growth

• Reasonable pricing with a post-issue P/E of 26.54x

• Attractive return ratios (ROE nearly 30%)

• Sound GMP at ₹24 indicating listing gains

• Experienced leadership and deep industry expertise

We recommend applying to Monika Alcobev IPO for investors seeking moderate listing gains and potential long-term growth exposure in India’s rising luxury liquor market.

Risk Factors:

• SME listing implies lower liquidity compared to mainboard IPOs

• Luxury alcohol sector is vulnerable to regulatory changes and taxation

• Market performance may depend on post-listing volatility and macroeconomic trends

Final Verdict:

Monika Alcobev IPO appears to be a moderately attractive opportunity for investors with a risk-tolerant outlook. The company’s brand portfolio, financial strength, and market leadership suggest sustained growth potential. While GMP-based listing gains seem modest, the valuation is justified by strong fundamentals.

Disclaimer:
This analysis is for educational and informational purposes only. It does not constitute investment advice or a solicitation to buy or sell any securities. Investors should perform their own due diligence or consult a SEBI-registered financial advisor before making any investment decisions. All data is based on information available as of the publication date and may be subject to change.

The Upcoming IPOs in this week and coming weeks are Savy Infra, Monika Alcobev, NSDL.

The Current active IPO are Anthem Biosciences, Spunweb Nonwoven.

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