ALLIES
Allied Blenders and Distillers shares see below par listing. Should you hold or exit?
Allied Blenders and Distillers' shares had a positive listing but fell short of expected gains due to lower grey market premiums. They debuted at Rs 320 per share, up 13% from the issue price, below the anticipated 17% gains. Post-listing, continuous decline in stock price dampened investor sentiment.
Allied Blenders and Distillers shares list at 14% premium over issue price
Allied Blenders, post IPO debut, saw a 14% premium. The company holds 8% IMFL market share in India. Revenue grew by 9% and profit after tax by 50%. Facing financial volatility, it expanded the product portfolio with a strong brand presence.
Allied Blenders and Distillers IPO shares to list on Tuesday. Here's what GMP indicates
The IPO, comprising a fresh issue of ₹1,000 crore and an offer for sale (OFS) of 1.77 crore existing shares, received overwhelming demand, with over 20 times subscription at its close. The company plans to utilize the funds from the fresh issue primarily for debt reduction and general corporate purposes.
NDA parliamentary party meeting on Tuesday, PM Modi likely to speak
Prime Minister Narendra Modi is expected to address the National Democratic Alliance's (NDA) parliamentary party meeting on Tuesday, in what will be his first speech to the MPs of the ruling bloc during the first session of Parliament since he assumed office for a third term. Though Modi in the past has addressed the NDA MPs on a few occasions, especially when he was elected as their leader ahead of all his three terms, he generally speaks at the meetings of Bharatiya Janata Party (BJP) MPs during sessions.
JD(U) names Sanjay Jha working president, seeks special category status or package for Bihar
The JD(U) appointed Sanjay Jha, its Rajya Sabha member, as working president during a national executive meeting on Saturday. Neeraj Kumar, a senior leader of the party, highlighted that JD(U) reiterated its demand for special category status for Bihar at the meeting. Alternatively, they suggested the Centre could consider a special package. The party also emphasized the need for stringent action against those involved in exam paper leaks and advocated for robust legislation to prevent such incidents in the future.
Buy Star Health, target price Rs 730.: Motilal Oswal
Star Health and Allied Insurance Company Ltd., incorporated in the year 2005, is a Large Cap company (having a market cap of Rs 31780.89 Crore) operating in Financial Services sector.
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Allied Blenders IPO: Check subscription on last day, GMP and other details
The IPO of Allied Blenders and Distillers was subscribed 23.49 times on its third and final day. NIIs show strong interest with 32 times subscription, followed by retail investors at 4.42 times. The QIB portion of the issue was booked 50 times. The IPO combines a Rs 1,000 crore fresh equity sale and OFS of 1.77 crore shares, allowing promoters Bina Kishore Chhabria and Resham Chhabria Jeetendra to reduce their stakes.
Speaker's Election: TMC decouples from INDIA bloc over division of votes
Protem Speaker Bhatruhari Mahtab clarified on the floor of the House that the Opposition was not "pressing for division". Later, Congress spokesman Jairam Ramesh said on X: "INDIA parties exercised their democratic right and moved motions in support of Kodikunnil Suresh... Voice vote was taken. Thereafter, INDIA parties could have insisted on division. They did not do so. This is because they wanted a spirit of consensus and cooperation to prevail, a spirit singularly lacking in the actions of the PM and the NDA."
Allied Blenders and Distillers IPO subscribed 1.51 times on Day 2. Check subscription, GMP and other details
ABDL's IPO involves a fresh equity sale of Rs 1,000 crore and an offer for sale (OFS) of 1.77 crore shares by promoters Bina Kishore Chhabria and Resham Chhabria Jeetendra. Funds raised will repay borrowings and fund corporate needs. The company's shares are trading with a GMP of Rs 87.
Allied Blenders and Distillers IPO opens for subscription. Should you bid?
Allied Blenders and Distillers IPO, featuring Officer's Choice whiskey, will open for subscription with a price band of Rs 267-281 per share. Promoters will offload part of their stakes, and analysts caution against investing due to high valuation and financial risks.
Allied Blenders and Distillers IPO booked 51% on Day 1. Check GMP and other details
Allied Blenders & Distillers IPO saw 51% subscription with promoters planning stake sale. Revenue grew 9% year-on-year to Rs 5,915 crore. ICICI Securities, Nuvama Wealth Management, and ITI Capital are the book running lead managers for the IPO.
Ahead of IPO, Officer's Choice whisky maker Allied Blenders raises Rs 449 cr from anchor investors
The company has allocated 1.6 crore equity shares to 17 funds at Rs 281 each, the top of the price band, amounting to a deal size of Rs 449 crore, according to the report. The public offering, priced between Rs 267 and Rs 281 per share, aims to raise Rs 1,500 crore and will be open for subscription from June 25 to June 27.
Allied Blenders IPO to open on Tuesday. What GMP signals ahead of subscription?
Allied Blenders and Distillers, the maker of Officer's Choice Whiskey, is launching a Rs 1,500 crore IPO. The IPO is priced at Rs 267-281 per share, with a premium of Rs 75 in the unlisted market.
Buy Star Health and Allied Insurance Company, target price Rs 730: Motilal Oswal
Star Health and Allied Insurance Company Ltd., incorporated in the year 2005, is a Large Cap company (having a market cap of Rs 30519.60 Crore) operating in Financial Services sector.
Allied Blenders and Distillers IPO opens this week: 10 things to know about this Rs 1,500-cr issue
The initial public offering (IPO) of Allied Blenders and Distillers will open for subscription on June 25. The issue closes on June 27. Through the public offer, the company plans to raise around Rs 1,500 crore.
Seat-sharing talks for Maharashtra polls yet to begin in MVA; all are equal stakeholders: Sanjay Raut
Shiv Sena (UBT) leader Sanjay Raut stated that seat-sharing discussions among the Maha Vikas Aghadi (MVA) allies for the upcoming Maharashtra assembly polls have not started yet. Raut emphasized that all parties within the MVA, including NCP (SP) and Congress, are equal stakeholders. He noted that despite the NCP (SP) having the highest strike rate in the Lok Sabha polls, the Shiv Sena (UBT) was heavily targeted by the opposition, which impacted its performance. Raut reassured that there will be ample seats for all parties to contest comfortably.
Officer's Choice whisky maker Allied Blenders IPO to open on June 25 with price band of Rs 267-281/share
Allied Blenders and Distillers Ltd sets price band for Rs 1,500-crore IPO of Officer's Choice whisky at Rs 267-281 per share, open for public from June 25-27 with bidding for anchor investors on June 24.
Allied Blenders & Distillers said to set terms for $180 million listing
In a draft prospectus published in January, the company behind Officer’s Choice whiskey announced plans to raise up to Rs 15 billion. This would include Rs 10 billion from issuing new shares and Rs 5 billion from selling shares held by existing owners.
Bihar: Speculations rife that Nitish Kumar's son may enter politics
For the past few weeks, there have been murmurs that the 73-year-old leader could agree to "demands from within the party" that Nishant formally join the JD(U), which lacks a second rung leadership that could take over from the supremo once he decides to hang the boots. The speculations intensified on Monday, when Vidyanand Vikal, who is associated with the party and heads the State Food Commission, came out with a social media post.
Third Eye: BJP ally targets party leaders, micro, small and medium, and non-performing alliance partners
SBSP had fought the Lok Sabha polls as part of NDA and Rajbhar's son Arvind Rajbhar lost Ghosi to the SP candidate. While OP Rajbhar claimed that the viral video was 'mischievously edited' to show him in a bad light, some BJP leaders like Anil Rajbhar advised him to watch his words.
MVA to begin alliance talks early, lay groundwork for Maharashtra polls
Opposition Maha Vikas Aghadi (MVA), comprising Congress, Shiv Sena (UBT), and NCP (SCP), has decided to start discussions early for seat-sharing in the assembly elections in Maharashtra, due within four months. The All India Congress Committee has asked senior Maharashtra party leaders to come to New Delhi next week to review the Lok Sabha poll results and make early assessments about the assembly seats that Congress must contest.
Modi 3.0 sworn-in: A 'sabka sath' union council of ministers
The new team has 27 from Other Backward Classes, 10 from Scheduled Castes and five each from Scheduled Castes and minority communities. There is no Muslim representation in the Union Council of Ministers. In the new political scenario, BJP allies have received 11 ministerial berths.
BJP in charge, focus on polls: Seven takeaways from PM Modi's largest council of ministers
Modi 3.0 Cabinet 2024: Narendra Modi was sworn in as Prime Minister for a third term, forming a 72-member coalition government with ease. Despite lacking a majority, BJP retains key ministries. Allies prioritized state funds over cabinet posts, while former CMs bring experience. Absence of Muslim ministers and the presence of billionaires and Hindu groups signal Modi's continuing strategies.
Not surprised that Ajit Pawar-led NCP didn't get berth in Modi's new cabinet, says Sule
MP Supriya Sule expressed lack of surprise at the NCP's exclusion from PM Modi's new cabinet. She highlighted the party's historical roles in past governments and emphasized mutual respect in alliances. Sule called for a full loan waiver for farmers and criticized the BJP's treatment of allies. She hoped for stable governance and relief for struggling farmers.
Congress floundered in Karnataka, Telangana, Himachal, did well in some states because of allies, says HD Deve Gowda
HD Deve Gowda penned a letter to Prime Minister Narendra Modi, expressing gratitude for the Cabinet position extended to his party. In the letter, he also raised doubts about the Congress party's capability to maintain unity among its allies.
House Panel role for those not selected for cabinet
The BJP may appoint senior MPs as parliamentary committee chairmen due to limited cabinet space, aiming to satisfy NDA allies crucial for government stability. With 24 committees, state units must propose two to three names each for selection. Fewer BJP are ministers expected in the cabinet, leading to more ally representation from successful states like Bihar and Maharashtra. State leaders must submit lists soon for final decisions.
Need to balance regional, national goals: NDA allies
BJP allies N Chandrababu Naidu and Nitish Kumar praised PM Modi at the NDA meeting. They emphased the need to balance regional aspirations with national objectives. The atmosphere was jovial, with leaders like H D Kumaraswamy and Eknath Shinde expressing support for Modi's leadership. Modi received accolades from allies like Chirag Paswan and Pawan Kalyan, with Naidu and Kumar stressing the importance of holistic development for all.
HDK, Chirag, Manjhi, Shinde, Ajit & Jayant could have one ministry each
Top BJP leaders, including Nadda and Shah, met with NDA partners to discuss cabinet formation. The meeting involved leaders from JD(U), TDP, and Shiv Sena. Potential ministers from various parties were considered, with JD(S), LJP, HAM, Shiv Sena, NCP, RLD, and Apna Dal (S) likely to have representation. Bihar's cabinet allocation was also addressed, with a formula reportedly agreed upon.
INDIA bloc's regional allies outdo Congress in putting check on BJP
As the opposition INDIA bloc leaders analysed election results, they acknowledged that the regional allies played a key role in denying BJP a majority, while Congress struggled in direct battles with BJP. The grand old party relied on defeating smaller parties and high-performing allies. Stellar performances by key allies like SP, AITMC, SS, NCP, and DMK were crucial in countering BJP's dominance, with Congress performing better in states where BJP was weaker.
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