Monika Alcobev files for IPO

Monika Alcobev, a prominent distributor in India’s premium and luxury liquor segment, has filed draft papers with the Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO). The public issue comprises a fresh issue of up to 48 lakh equity shares and an offer for sale of up to 10 lakh equity shares, aggregating to a total of 58 lakh equity shares with a face value of ₹10 each.

The IPO will be listed on the BSE SME Platform. Marwadi Chandarana Intermediaries Brokers Pvt. Ltd. is serving as the Book Running Lead Manager (BRLM), and MUFG Intime India Pvt. Ltd. is appointed as the registrar to the issue.

The offer for sale includes up to 5.45 lakh equity shares by Deven Mahendrakumar Shah and up to 4.54 lakh shares by Rhetan Estate, the existing stakeholders in the company.

Monika Alcobev intends to utilise the net proceeds from the fresh issue primarily for working capital requirements, amounting ₹100.41 crore. Additionally, ₹11.78 crore will be directed towards repayment of certain outstanding borrowings, with remaining funds allocated for general corporate purposes.