PANDIT JOINS LIQUOR COMPANY’S STOCK MARKET DEBUT: 'ONLY IN INDIA' MOMENT

Shares of whisky maker Allied Blenders and Distillers were listed on the stock market on Tuesday with the presence of a pandit (Hindu priest). Visuals of the ceremony have been doing the rounds on social media, showing a pandit on stage with executives for the lamp-lighting ceremony. The liquor company's invitation of a priest to the listing ceremony has sparked various memes on microblogging platform X. "Only in India will you see a pandit on stage at a listing ceremony," wrote an X user named Tanisha on the microblogging platform. “Congrats to the ABD team on the stellar listing,” she added.

“That too for a daru company,” one person pointed out in the comments section. “For a daru company,” another wrote with a laughing face emoji.

The official X account of Allied Blenders and Distillers also shared a picture from the NSE listing ceremony. “Allied Blenders and Distillers makes its debut on the stock market!” the company captioned the picture.

A listing ceremony is the event where a company's shares are officially listed and begin trading on the National Stock Exchange of India (NSE).

Shares of Allied Blenders and Distillers were initially listed with a 13.88% gain at Rs 320 per share on the BSE, compared to the issue price of Rs 281. The stock quickly declined after listing, before recovering to Rs 319.45 on the BSE.

The initial public offering (IPO) of Allied Blenders and Distillers, the producer of the 'Officer’s Choice' and 'Sterling Reserve' whisky brands, was open for public subscription from June 25 to June 27. It received a 24.85 times subscription on the final day of bidding.

2024-07-02T08:32:42Z dg43tfdfdgfd