Officer's Choice Whisky manufacturer Allied Blenders and Distillers Ltd plans to undertake its initial public offering (IPO) on June 25. Allied Blenders and Distillers submitted preliminary IPO papers with Sebi in January of this year and received regulatory permission in May to conduct the IPO.
The Most Important Information Regarding Allied Blenders's IPO Is Here
1. The Rs 1,500 crore initial public offering's share sale will conclude on June 27.
2. The day before the IPO, on June 24, has been set aside for anchor investor bidding.
3. According to the red herring prospectus (RHP), the initial share-sale consists of a fresh issue of equity shares valued at Rs 1,000 crore and an Offer-for-Sale (OFS) of shares amounting to Rs 500 crore by promoters.
4. The business stated that proceeds from the new issue, which totaled Rs 720 crore, will be utilized for general corporate objectives in addition to debt repayment.
5. As part of the OFS, the company's promoters, Bina Kishore Chhabria, Resham Chhabria Jeetendra Hemdev, and Neesha Kishore Chhabria, will sell shares.
6. The book running lead managers for the offer are ITI Capital Ltd., Nuvama Wealth Management Ltd., and ICICI Securities Ltd.
7. It is suggested that the company's equity shares be listed on the BSE and NSE.
As of December 2023, the company's total debt was estimated to be about Rs 808 crore.
Allied Blenders and Distillers is involved in the production, promotion, and retailing of alcoholic drinks both domestically and internationally, with a market share of more than 8% in the Indian-Made Foreign Liquor (IMFL) industry based on sales volumes in fiscal 2023.
The company offers a variety of brands of Indian-Made Foreign Liquor (IMFL), including vodka, rum, brandy, and whiskey. Among the company's well-known products are Class 21 Vodka, Jolly Roger Rum, Officer's Choice Whisky, and Sterling Reserve Whisky.
