The initial public offering of Allied Blenders and Distillers was fully subscribed on June 26, the second day of bidding. Investors have picked 5.96 crore equity shares so far, which was 1.52 times the offer size of 3.93 crore shares, the subscription data of exchanges showed.

The Officer's Choice whisky maker intends to raise Rs 1,500 crore through its public issue which consists of a fresh issuance of shares worth Rs 1,000 crore, and an offer-for-sale (OFS) of shares worth Rs 500 crore by promoters.

Non-institutional investors were at the forefront to support the issue, buying 2.98 times their reserved portion, followed by retail investors who picked 1.65 times the allotted quota. Qualified institutional buyers are also gradually increasing their bids, subscribing 14 percent of its portion.

Employees, who have Rs 3 crore worth shares reserved in the IPO, bought 5.09 times the portion set aside for them. They will get those shares at a discount of Rs 26 per share to the final issue price.

Allied Blenders has already mopped up Rs 499.1 crore through its anchor book on June 24. Societe Generale, Goldman Sachs, Troo Capital, BNP Paribas, 360 One Special Opportunities Fund, LIC Mutual Fund, and Jupiter India were amongst investors in the anchor book.

The Maharashtra-based liquor maker is going to utilise net fresh issue proceeds mainly for repaying debts, besides general corporate purposes.

Meanwhile, the Allied IPO shares were available at around 25-30 percent premium over the upper end of price band of Rs 267-281 per share, in the grey market, the market observers said.