New Delhi, July 23 (H.S.): Shares of Monika Alcobev, a beverage importer, made a modest debut on the stock market today, listed at 288 rupees on the BSE's SME platform following an IPO price of 286 rupees. The stock initially rose to 289.50 rupees but closed at the IPO price of 288 rupees due to profit booking, yielding a 0.70 percent gain for IPO investors. The IPO, valued at 165.63 crores rupees, was open for subscription from July 16 to 18 and was subscribed 4.08 times overall. The Qualified Institutional Buyers’ portion was subscribed 2.54 times, Non-Institutional Investors’ at 8.86 times, and retail investors’ at 2.29 times.

The IPO issued 137.02 crores rupees in new shares and included a sale of 10 lakh shares at a face value of 10 rupees. The funds raised will address old debt, working capital, and corporate needs. Financially, the company's net profit rose from 13.03 crores in 2022-23 to 16.60 crores in 2023-24, with a forecast of 23.11 crores in 2024-25 and a revenue growth rate exceeding 30 percent, reaching 238.36 crores rupees.

Hindusthan Samachar / Jun Sarkar