Winning Bizness Desk

Mumbai. Investors have shown their zeal over the upcoming IPOs and most of the IPOs have got positive response from the stock market along with bumper subscription. Now investors have showered their full love on the IPO of the whiskey making company Allied Blenders and Distillers. According to the stock market data, till the last day of IPO subscription, the company's IPO was oversubscribed. The IPO of Officers Choice whisky maker Allied Blenders and Distillers got 23.49 times subscription on the last day of bidding on Thursday. According to NSE data, bids were received for 92,49,01,092 shares against the offer of 3,93,71,669 shares in the initial share sale of Rs 1,500 crore. The portion of qualified institutional buyers (QIBs) got 50.37 times subscription, while the category of non-institutional investors got 32.35 times subscription. The portion of retail investors (RIIs) got 4.42 subscription subscriptions.

The price range Rs 267-281 per share

The IPO consists of a fresh issue of up to Rs 1,000 crore and an OFS of up to Rs 500 crore. The price range of the initial share sale is Rs 267-281 per share. Allied Blenders and Distillers Limited has raised Rs 449 crore from anchor (large) investors. Of the amount raised from the new issue, Rs 720 crore will be used to repay debt and a part will be used for general corporate purposes.

Rise in stock market

Notably, the stock market is booming now a days. Sensex has not only reached a new record high with a rise of more than 2000 points in the last 4 business days but has also crossed the level of 79 thousand points. On the other hand, Nifty has also seen a very good rise and has created history by crossing the level of 24 thousand points. According to the data, Nifty has seen an increase of about 550 points in 4 business days. Due to which the market cap of BSE reached the highest level of Rs 4,38,41,960.73 crore and during four trading sessions, investors' wealth went up by Rs 3.93 lakh crore.

Over two dozens IPOs are in the way

After a gap of two years, the IPO market has seen a boom. In the last 6 months, 33 IPOs have come and have raised Rs 29 thousand crore. According to experts, IPOs worth more than Rs 50 thousand crore are coming in the next 3 to 4 months, in which two dozen companies are preparing to bring their IPO soon. Whose value can be more than Rs 30 thousand crore. During this time, the biggest IPO in the history of the country will also come. This IPO will be of Hyundai India which size is being touted to be Rs 25 thousand crore.