New Delhi, 24 June 2024: Allied Blenders and Distillers Ltd, the maker of Officer’s Choice Whisky, has raised ₹449 crore from anchor investors just before opening its IPO to the public. Anchor investors include Nippon India Mutual Fund (MF), LIC MF, JM Financial MF, Jupiter India Fund, Societe Generale, Goldman Sachs (Singapore) Pte, Wipro Commercial (India) Ltd, and Troo Capital, according to a circular on the BSE website.
Shares Allotted to Anchor Investors
The company allotted 1.6 crore shares to 17 funds at ₹281 each, the top of the price band, totalling ₹449 crore.
IPO Details
- Dates: The IPO will be open for public subscription from 25 to 27 June 2024.
- Issue Size: The total IPO size is ₹1,500 crore.
- Fresh Issue: ₹1,000 crore.
- Offer for Sale (OFS): ₹500 crore by promoters Bina Kishore Chhabria, Resham Chhabria Jeetendra Hemdev, and Neesha Kishore Chhabria.
- Price Band: ₹267 to ₹281 per share.
Use of Funds
- Debt Repayment: ₹720 crore will be used to pay down debt.
- General Corporate Purposes: The remaining funds will be used for general corporate needs.
- Current Debt: The company had a total debt of around ₹808 crore as of December 2023.
Market Capitalisation
Post-issue, Allied Blenders is expected to have a market capitalisation of ₹7,860 crore.
Share Allocation
- Qualified Institutional Buyers (QIBs): 50% reserved.
- Retail Investors: 35% reserved.
- Non-Institutional Investors (NIIs): 10% reserved.
Bidding Information
- Lot Size: Investors can bid for 53 shares and multiples thereof.
Company Overview
Allied Blenders and Distillers has over 8% market share in the Indian-Made Foreign Liquor (IMFL) market by sales volume as of Fiscal 2023. The company produces, markets, and sells alcoholic beverages in India and internationally. Its product range includes whisky, brandy, rum, and vodka. Key brands include Officer’s Choice Whisky, Sterling Reserve Whisky, Jolly Roger Rum, and Class 21 Vodka.
IPO Managers and Listing
- Lead Managers: ICICI Securities Ltd, Nuvama Wealth Management Ltd, and ITI Capital Ltd.
- Proposed Listing: BSE and NSE.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
