ALLIES
Allies inducted in several Cabinet committees
The BJP-led NDA government established Cabinet committees and included allies in the critical panel on economic affairs, which convenes more frequently. The government also renamed the Cabinet Committee on Skill and Employment to include 'Livelihood'.
Government forms Cabinet Committees, includes Union Ministers from NDA allies
The central government has formed eight Cabinet Committees, including the Appointments Committee of the Cabinet, Cabinet Committee on Accommodation, Economic Affairs, Parliamentary Affairs, Political Affairs, Security, Investment and Growth, and Skill Employment and Livelihood, with key ministers and special invitees designated to each committee to address various aspects of governance and decision-making.
Allied Blenders shares list at 13.8% premium over offer price
Allied Blenders and Distillers, after a successful IPO, intends to use ₹720 crore from the fresh issue to repay outstanding borrowings and for general corporate purposes. The company's strategic financial decisions align with its growth objectives and market positioning.
Congress a parasite for its allies, eats up their votes, says PM Modi
PM Modi criticized Congress in his Lok Sabha speech for failing to secure over 100 Lok Sabha seats in three consecutive terms. He accused them of avoiding introspection, engaging in constant attacks on BJP, and neglecting their role as the opposition in parliament.
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.
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.
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.
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.
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.
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.
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