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.
: Shares of listed on Tuesday at ₹320 apiece, a of 13.8% over its of ₹281. The stock recorded a high of ₹324.8 and closed at ₹317. The of the company stood at ₹8,891 crore at Tuesday's close.The ₹1,500-crore was subscribed 23.55 times last week, with bidding for 92.71 crore shares against the offer size of 3.93 crore shares. The IPO consisted of a fresh issue of ₹1,000 crore and an offer for sale of ₹500 crore.
The company plans to use the proceeds from the fresh issue worth ₹720 crore for repayment of and general corporate purposes. - Our Bureau
Source: Stocks-Markets-Economic Times
