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19 Nov 2024
Allied Blenders and Distillers Ltd., renowned for Officer's Choice whisky, has fixed a price band of Rs 267–281 per share for its forthcoming initial public offering (IPO). The company intends to raise up to Rs 1,500 crore in the primary market through a combination of a Rs 500 crore offer for sale and a fresh issue of shares amounting to Rs 1,000 crore. The IPO subscription window is scheduled to open on June 25 and close on June 27. ICICI Securities Ltd., Nuvama Wealth Management Ltd., and ITI Capital Ltd. will act as the book-running lead managers for the IPO.
Allied Blenders engages in the production, marketing, and distribution of alcoholic beverages within India and globally. Its product lineup encompasses a range of Indian-made foreign liquor, including whisky, brandy, rum, and vodka. Among its notable brands are Officer's Choice whisky, Sterling Reserve whisky, Jolly Roger rum, and Class 21 Vodka. In the fiscal year 2023, the company secured more than 8% of the Indian-made foreign liquor market by sales volume. The proceeds from the fresh issue will primarily be allocated towards debt repayment and general corporate purposes.
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