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16 Nov 2024
Allied Blenders and Distillers Limited IPO
Allied Blenders is the largest Indian-owned Indian-made foreign liquor (“IMFL”) company and the third largest IMFL company in India, in terms of annual sales volumes between Fiscal 2014 and Fiscal 2022. They are one of the only four spirits companies in India with a pan-India sales and distribution footprint, a leading exporter of IMFL and had an estimated market share (in terms of sales volume) of 11.8% in the Indian whisky market for Fiscal 2023. Allied Blenders IPO is a book-built issue of Rs 1,500.00 crores. The issue is a combination of a fresh issue of 3.56 crore shares aggregating to Rs 1,000.00 crores and an offer for sale of 1.78 crore shares aggregating to Rs 500.00 crores.
Allied Blenders IPO opens for subscription on June 25, 2024, and closes on June 27, 2024. The allotment for the Allied Blenders IPO is expected to be finalized on Friday, June 28, 2024. Allied Blenders IPO price band is set at ₹267 to ₹281 per share. The minimum lot size for an application is 53 Shares. ICICI Securities Limited, Nuvama Wealth Management Limited and Iti Capital Ltd are the book-running lead managers of the Allied Blenders IPO, while Link Intime India Private Ltd is the registrar for the issue.
Allied Blenders IPO Overview
| Detail | Description |
|---|---|
| IPO Date | June 25, 2024 to June 27, 2024 |
| Listing Date | [.] |
| Face Value | ₹2 per share |
| Price Band | ₹267 to ₹281 per share |
| Lot Size | 53 Shares |
| Total Issue Size | 53,380,783 shares (aggregating up to ₹1,500.00 Cr) |
| Fresh Issue | 35,587,189 shares (aggregating up to ₹1,000.00 Cr) |
| Offer for Sale | 17,793,594 shares of ₹2 (aggregating up to ₹500.00 Cr) |
| Employee Discount | Rs 26 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 244,113,665 |
| Shareholding post issue | 279,700,854 |
Allied Blenders IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| IPO Open Date | Tuesday, June 25, 2024 |
| IPO Close Date | Thursday, June 27, 2024 |
| Basis of Allotment | Friday, June 28, 2024 |
| Initiation of Refunds | Monday, July 1, 2024 |
| Credit of Shares to Demat | Monday, July 1, 2024 |
| Listing Date | Tuesday, July 2, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 27, 2024 |
Allied Blenders IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 53 | ₹14,893 |
| Retail (Max) | 13 | 689 | ₹193,609 |
| S-HNI (Min) | 14 | 742 | ₹208,502 |
| S-HNI (Max) | 67 | 3,551 | ₹997,831 |
| B-HNI (Min) | 68 | 3,604 | ₹1,012,724 |
Allied Blenders IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Allied Blenders IPO Promoter Holding
| Share Holding Pre Issue | 96.21% |
| Share Holding Post Issue | 80.91% |
Allied Blenders IPO Anchor Investors Details
| Bid Date | June 24, 2024 |
| Shares Offered | 15,982,206 |
| Anchor Portion Size (In Cr.) | 449.10 |
| Anchor lock-in period end date for 50% shares (30 Days) | July 28, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | September 26, 2024 |
Company & Financials
Incorporated in 2008, Allied Blenders and Distillers is an Indian-made foreign liquor company. The company offers four Indian-made foreign liquor categories: whisky, brandy, rum, and vodka. In addition, they sell packaged drinking water under the Officer's Choice, Officer's Choice Blue and Sterling Reserve brands. The Officer's Choice Whisky was introduced in 1988 as the company's foray into the mass premium whisky market. It is one of the most-selling whisky brands in the world in terms of annual sales volumes from 2016 to 2019. As of December 31, 2021, the company's products were exported to 22 international markets, including the Middle East, North and South America, Africa, Asia and Europe. The company owns and operates a distillery in Rangapur, Telangana, which is spread over 74.95 acres and has a built-up area of over 25,000 square meters. The company's in-house distillation capacity of extra neutral alcohol (ENA), the key material used in manufacturing its products, is 54.75 million liters annually. The company also has extensive bottling capabilities across India.
Allied Blenders and Distillers Limited Financial Information
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | ||||||||||||||||||||||||||||||||||||
| Assets | 2,741.39 | 2,487.70 | 2,248.35 | 2,298.57 | ||||||||||||||||||||||||||||||||||||
| Revenue | 5,914.98 | 7,116.75 | 7,208.17 | 6,397.81 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 4.23 | 1.60 | 1.48 | 2.51 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 409.26 | 406.10 | 404.10 | 381.78 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 360.43 | 357.28 | 356.99 | 327.85 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 798.11 | 780.82 | 846.91 | 954.74 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 1.03% |
| ROCE | 24.35% |
| Debt/Equity | 1.88 |
| RoNW | 1.03% |
| P/BV | 16.77 |
| PAT Margin (%) | 0.17 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 0.07 | 0.2 |
| P/E (x) | 4284.57 | 1393.87 |
Objectives of Allied Blenders IPO
The Company proposes to utilize the Net Proceeds towards funding the following objectives:
- 1. Prepayment or scheduled repayment of a portion of certain outstanding borrowings availed by the Company.
- 2. General corporate purposes.
Allied Blenders IPO Review
The company is one of the leading players in the IMFL segment. It marked negligible profits for the reported periods and priced its IPO exorbitantly on a P/E basis. The management hopes to match the net margin levels with its listed peers in the coming two years. Currently, the company is posting a skinny margin. Thus it’s a pure long-term story. There is no harm in skipping this pricey issue that is discounting all near-term positives.
FAQs for Allied Blenders IPO
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What is Allied Blenders and Distillers IPO?
Allied Blenders and Distillers IPO is a main-board IPO. They are going to raise ₹1500 Crores via IPO. The issue is priced at ₹267 to ₹281 per equity share. The IPO is to be listed on BSE & NSE.
-
When will Allied Blenders and Distillers IPO?
The IPO is to open on June 24, 2024 for QIB, NII, and Retail Investors.
-
What is Allied Blenders and Distillers IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
-
What is Allied Blenders and Distillers IPO Size?
Allied Blenders and Distillers IPO size is ₹1500 crores.
-
What is Allied Blenders and Distillers IPO Price Band?
Allied Blenders and Distillers IPO Price Band is ₹267 to ₹281.
-
What is the Allied Blenders and Distillers IPO Allotment Date?
Allied Blenders and Distillers IPO allotment date is June 27, 2024.
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What is the Allied Blenders and Distillers IPO Listing Date?
Allied Blenders and Distillers IPO listing date is July 1, 2024. The IPO is to be listed on BSE and NSE.
RHP:
RHP of Allied Blenders and Distillers Limited IPO
DRHP:
DRHP of Allied Blenders and Distillers Limited IPO
Anchor Investor Link:
Anchor Investor Link of Allied Blenders and Distillers Limited IPO
-
What is Allied Blenders and Distillers IPO?
Allied Blenders and Distillers IPO is a main-board IPO. They are going to raise ₹1500 Crores via IPO. The issue is priced at ₹267 to ₹281 per equity share. The IPO is to be listed on BSE & NSE.
-
When will Allied Blenders and Distillers IPO?
The IPO is to open on June 24, 2024 for QIB, NII, and Retail Investors.
-
What is Allied Blenders and Distillers IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
-
What is Allied Blenders and Distillers IPO Size?
Allied Blenders and Distillers IPO size is ₹1500 crores.
-
What is Allied Blenders and Distillers IPO Price Band?
Allied Blenders and Distillers IPO Price Band is ₹267 to ₹281.
-
What is the Allied Blenders and Distillers IPO Allotment Date?
Allied Blenders and Distillers IPO allotment date is June 27, 2024.
-
What is the Allied Blenders and Distillers IPO Listing Date?
Allied Blenders and Distillers IPO listing date is July 1, 2024. The IPO is to be listed on BSE and NSE.
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