What is the business of Monika Alcobev IPO?

Established in 2015, Monika Alcobev Limited is a leading importer and distributor of premium alcoholic beverages across India and the Indian Subcontinent.

With a curated portfolio of over 70 luxury brands, the company offers an extensive range of spirits, wines, and liqueurs — including globally acclaimed labels like Jose Cuervo, Bushmills, and Onegin Vodka.

Monika Alcobev serves diverse markets including HORECA (Hotels, Restaurants, and Cafés), retail outlets, and travel retail channels across India, Nepal, Maldives, Sri Lanka, and Bangladesh.

Backed by a team of 250+ skilled professionals, the company manages end-to-end logistics, marketing, and distribution to deliver exceptional experiences in the alcobev space.

As of March 31, 2025, Monika Alcobev employed 191 full-time personnel, reflecting its growing operational footprint and commitment to excellence in the luxury beverage segment.

Who are the Promoters of Monika Alcobev IPO?

Bhimji Nanji Patel and Kunal Bhimji Patel are the promoters of the company.

What are the Objects of Monika Alcobev IPO?

The Company proposes to utilize the Net Proceeds from Issue towards funding the following objects

1.Funding working capital requirements of the Company Rs. 100.64 Cr.
2.Pre-payment or repayment of certain outstanding borrowings availed by the Company Rs. 11.45 Cr.
3.General Corporate Purposes

Monika Alcobev IPO IPO GMP grey market premium, review, Subscription, allotment, listing estimate

Monika Alcobev IPO Review by Paresh Gordhandas, CA & Research Analyst.

Monika Alcobev Limited – IPO Review

Company Overview:
Incorporated in 2015, Monika Alcobev Limited is a prominent importer and distributor of premium alcoholic beverages, catering to markets across India and the Indian Subcontinent.

The company boasts a curated portfolio of over 70 luxury brands, including globally renowned labels such as Jose Cuervo, Bushmills, and Onegin Vodka. Its clientele spans the HORECA segment (Hotels, Restaurants, and Cafés), retail outlets, and travel retail channels in countries like India, Nepal, Maldives, Sri Lanka, and Bangladesh.

With a workforce of over 250 skilled professionals, Monika Alcobev manages comprehensive logistics, marketing, and distribution operations, aiming to deliver seamless access to international alcobev experiences.

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Industry Outlook & Financial Performance:

The premium alcohol segment in India is poised for robust growth, driven by rising disposable incomes among the high-income and upper-middle-class population.

Monika Alcobev has shown consistent growth in recent years:

• Revenue increased from Rs. 140.36 crore (FY 2022–23) to Rs. 238.36 crore (FY 2024–25)

• The company’s profitability has also seen a sharp improvement

At the upper price band, the IPO is valued at a P/E multiple of 20.51, which appears reasonably attractive at first glance.

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Key Considerations:

• The company does not own manufacturing facilities or brand rights — it functions purely as a marketing and import distribution entity

• This business model faces high competition and lower entry barriers

• The IPO size of Rs. 165.63 crore is relatively large, considering it is a trading/importer company and not a producer

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Fundamental Outlook: 🔍 Neutral

While financials indicate positive momentum, the lack of brand ownership and manufacturing capabilities limits the company’s long-term moat. Competitive intensity remains a risk factor.

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Monika Alcobev IPO review