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Monika Alcobev IPO opens July 16 and closes July 18, 2025. Total issue size is ₹165.63 crore with 57,91,200 shares, of which 53,73,600 equity shares are available for public subscription after excluding 4,17,600 market maker shares. Price band is ₹271–₹286. Funds will be used for working capital, loan repayment, and general corporate purposes. Listing on BSE SME is set for July 23.
Subscription Rate
Source data NSE/BSE
| Category | Subscription (x) |
| QIBs | 2.22x |
| NIIs | 5.71x |
| Retails | 2.67x |
| Total | 2.49x |
| Last Updated: 18 July 2025 Time: 7 PM (Note: This data is updated every 2 hours) | |
Core Business & Overview
- Import, distribution & marketing of premium and luxury alcoholic beverages—including spirits, wines, tequilas, whiskeys, liqueurs—across India and nearby markets (Nepal, Sri Lanka, Maldives, Bangladesh). They cater to HORECA, retail, travel retail, embassies, ship stores, and duty-free outlets.
- Offer end-to-end services: logistics, bonded warehousing, brand-building, sales & marketing, leveraging six warehouses (e.g., Mumbai, Delhi, Karnataka, Haryana).
- Portfolio includes 70–200+ international brands, such as Jose Cuervo, Bushmills, Rémy Martin, Cointreau, Belenkaya, etc., with exclusive rights for many
Strengths
- Strong brand partnerships & portfolio depth
Exclusive ties with 60+ premium brands in champagne, spirits, tequila, vodka, etc.—supported by founders with experience spanning over three decades - Geographically diversified market reach
Presence in 18–22 Indian states and nearby countries, via established distribution to Tier‑1 & Tier‑2 cities and duty-free/HORECA channels. - Financial prudence & improving risk profile
- Gearing reduced from ~4.1× (FY23) to ~2.1× (FY24), with improved debt ratios.
- Adequate coverage: ICR ~3.6×, DSCR ~2.6×.
Potential Risks
- Working‑capital intensity
- Operating cycle extended to ~265 days (FY24); receivable days ~160 days, inventory ~140–150 days.
- High reliance on unsecured director loans and external capital infusion.
- Regulatory & operational risks
- Heavily regulated state-level alcohol laws cause fluctuating taxes, license constraints, and possible changes in excise duties.
- Foreign exchange exposure due to imports and no hedging in place; product-cost risks .
- Supply-chain disruption potential and dependency on key customers/brands.
- Intense competition
Faces rivalry from other distributors with similar or overlapping inventory .
Outcome:
Monika Alcobev Limited is a well-positioned distributor of premium imported alcoholic beverages, backed by a deep portfolio, strong brand ties, geographic reach, and solid recent financial performance. Their financial discipline, with debt reduction and improved profitability, is notable.
Still, the company operates in a working‑capital-intensive environment, under volatile regulatory regimes, exchange-rate pressures, and competitive market dynamics. The upcoming IPO appears valued at a premium, and execution risks could impact investors. However, for stakeholders aligned with growth in India’s alcobev premiumization, Monika Alcobev offers a compelling mix of scale and momentum, provided it continues to manage its inventory, receivables, and regulatory exposure diligently.
Financial Performance Analysis (in ₹ Crore)
| Particulars | FY-2023 | FY-2024 | FY-2025 |
| Revenue | ₹139.78 Cr | ₹189.20 Cr | ₹236.15 Cr |
| Profit | ₹13.02 Cr | ₹16.60 Cr | ₹23.11 Cr |
| Assets | ₹128.53 Cr | ₹216.42 Cr | ₹323.89 Cr |
Revenue
- FY-2023 to FY-2024: Growth of ₹49.42 Cr (~35.4%)
- FY-2024 to FY-2025: Growth of ₹46.95 Cr (~24.8%)
Analysis: The company has consistently shown strong revenue growth over three years, with a CAGR of approximately 28.9%. This reflects expansion in brand portfolio and distribution reach.
Profit
- FY-2023 to FY-2024: Growth of ₹3.58 Cr (~27.5%)
- FY-2024 to FY-2025: Growth of ₹6.51 Cr (~39.2%)
Analysis: Profit is growing steadily and outpacing revenue growth in FY-2025, showing improved operational efficiency and margin control.
Total Assets
- FY-2023 to FY-2024: Growth of ₹87.89 Cr (~68.4%)
- FY-2024 to FY-2025: Growth of ₹107.47 Cr (~49.6%)
Analysis: Sharp rise in assets signals strong capital deployment, likely due to inventory expansion, warehousing, and receivables due to business scale-up.
Summary
- Strong Financial Growth: Revenue and profit have both grown substantially over 3 years.
- Healthy Profitability: Profit margins are improving, indicating efficient cost management.
- Asset Expansion: High asset growth shows aggressive investment in operations.
- Investor Confidence Boost: The trends support the company’s positive outlook ahead of IPO.
Financials indicate strong growth trajectory, increased investor confidence, and robust operational performance
Disclaimer:
The above IPO analysis and financial data are based on information provided by the company in its official documents. For complete details, please refer to the Red Herring Prospectus (RHP) linked above. Investors are strongly advised to consult their financial advisor before making any investment decisions.
