New Delhi, July 23 (H.S.): Shares of Monika Alcobev debuted on the stock market today at ₹286 under its IPO, listing at ₹288 on the BSE’s SME platform, reflecting a slight premium of 0.70 percent. By 10:30 AM, trading increased, with shares reaching ₹289.50, yielding a profit of approximately 1.22 percent for IPO investors.
The IPO, valued at ₹165.63 crore, was open for subscription from July 16 to July 18 and garnered a moderate response with an overall subscription rate of 4.08 times. Qualified Institutional Buyers (QIB) subscribed 2.54 times, Non-Institutional Investors (NII) 8.86 times, and retail investors 2.29 times. The offering included 1.37 crore new shares and an additional 10 lakh shares sold via an offer-for-sale. Proceeds will go towards debt repayment, working capital, and general corporate purposes.
Financially, the company has shown improvement, reporting a net profit of ₹13.03 crore for FY 2022-23, projected to rise to ₹16.60 crore in FY 2023-24 and soar to ₹23.11 crore by FY 2024-25, with revenue growing at over 30 percent CAGR to ₹238.36 crore.
Hindusthan Samachar / Jun Sarkar
