Shares of Allied Blenders and Distillers Ltd. are trading over 2% lower on Thursday, January 1, ahead of the expiry of its six-month and longer shareholder lock-in period. As reported by CNBCTV18.com, the lock-in ends on Friday, January 2, making around 55.9 million shares, or about 20% of the company's outstanding equity, eligible for trading. The company went public in July 2024 with its ₹1,500 crore IPO being oversubscribed 24.85 times.
According to Nuvama Alternative & Quantitative Research, at Thursday's market price, the value of these shares is estimated at nearly ₹3,355 crore. The expiry of the lock-in does not imply that all these shares will be sold in the open market, but only that they become eligible for trading. The company currently has a market capitalization of ₹16,800 crore with promoters holding 80.91% stake.
Allied Blenders and Distillers has been an outperformer since listing, with the stock up nearly 114% from its issue price at current market levels, as reported by CNBCTV18.com. This significant appreciation demonstrates strong investor confidence in the company since its public debut. The stock has gained 40% over the past six months, showcasing sustained momentum despite the recent 2% decline on January 1, 2025.
Allied Blenders and Distillers reported strong financial performance in the September 2024 quarter (Q2 FY25) with standalone revenue of ₹1,944.14 crore and net profit of ₹71.80 crore. For the full financial year 2024, the company achieved revenue of ₹8,072.96 crore with net profit of ₹200.13 crore, reflecting robust business fundamentals that have supported the stock's impressive post-listing performance.
Separately, HDB Financial Services will also see the end of its six month shareholder lock-in period on Friday. This will make nearly 58% of its outstanding equity, or around 481.5 million shares, eligible for trading. At current prices, the value of these shares is close to ₹37,000 crore. Shares of HDB Financial continue to trade above their IPO issue price of ₹740 per share.
