New Delhi: Allied Blenders and Distillers Ltd, the maker of Officer's Choice whiskey, on Thursday set a price band of Rs 267 to Rs 281 per share for its Rs 1,500-crore initial public offering (IPO).
The initial sale of shares will open for public subscription from June 25 to 27 and bidding for anchor investors will open on June 24, the company announced.
Brokerage firms have pegged the company's market capitalization at Rs 7,860 crore post-issue.
The initial share sale of the Mumbai-based company comprises a fresh issue of shares worth Rs 1,000 crore and an offer for sale (OFS) of shares worth Rs 500 crore by the promoters.
As part of the OFS, Bina Kishore Chhabria, Resham Chhabria Jeetendra Hemdev and Neesha Kishore Chhabria will sell shares.
Proceeds from the fresh issue worth Rs 720 crore will be used for debt repayment. Additionally, a portion will be used for general corporate purposes.
The total debt on the company's books was around Rs 808 crore as of December 2023.
Allied Blenders and Distillers began its journey in 1988 with the launch of the flagship brand Officer's Choice Whiskey, which marked its entry into the mass premium whiskey segment.
It is engaged in the manufacturing, marketing and sale of alcoholic beverages in India and abroad. The company's product portfolio comprises various brands of IMFL such as whiskey, brandy, rum and vodka.
Some of the company's top brands include Officer's Choice Whiskey, Sterling Reserve Whiskey, Jolly Roger Rum, and Class 21 Vodka.
Allied Blenders is India's third largest Indian Made Foreign Liquor (IMFL) company, in terms of annual sales volumes between FY 2014 and FY 2022. It is a leading exporter of IMFL, with a share of estimated market share of 11.8 percent in the Indian Whiskey Market by fiscal year 2023.
As of March 31, 2023, the company's products were retailed at 79,329 outlets across 30 states and Union Territories in India.
The company said half of the issue size has been reserved for qualified institutional investors, 35 per cent for retail investors and the remaining 10 per cent for non-institutional investors. Additionally, investors can bid for 53 shares and multiples thereof.
ICICI Securities Ltd, Nuvama Wealth Management Ltd and ITI Capital Ltd are the lead managers of the issue. The company's shares are proposed to be listed on the BSE and NSE.
The initial sale of shares will open for public subscription from June 25 to 27 and bidding for anchor investors will open on June 24, the company announced.
Brokerage firms have pegged the company's market capitalization at Rs 7,860 crore post-issue.
The initial share sale of the Mumbai-based company comprises a fresh issue of shares worth Rs 1,000 crore and an offer for sale (OFS) of shares worth Rs 500 crore by the promoters.
As part of the OFS, Bina Kishore Chhabria, Resham Chhabria Jeetendra Hemdev and Neesha Kishore Chhabria will sell shares.
Proceeds from the fresh issue worth Rs 720 crore will be used for debt repayment. Additionally, a portion will be used for general corporate purposes.
The total debt on the company's books was around Rs 808 crore as of December 2023.
Allied Blenders and Distillers began its journey in 1988 with the launch of the flagship brand Officer's Choice Whiskey, which marked its entry into the mass premium whiskey segment.
It is engaged in the manufacturing, marketing and sale of alcoholic beverages in India and abroad. The company's product portfolio comprises various brands of IMFL such as whiskey, brandy, rum and vodka.
Some of the company's top brands include Officer's Choice Whiskey, Sterling Reserve Whiskey, Jolly Roger Rum, and Class 21 Vodka.
Allied Blenders is India's third largest Indian Made Foreign Liquor (IMFL) company, in terms of annual sales volumes between FY 2014 and FY 2022. It is a leading exporter of IMFL, with a share of estimated market share of 11.8 percent in the Indian Whiskey Market by fiscal year 2023.
As of March 31, 2023, the company's products were retailed at 79,329 outlets across 30 states and Union Territories in India.
The company said half of the issue size has been reserved for qualified institutional investors, 35 per cent for retail investors and the remaining 10 per cent for non-institutional investors. Additionally, investors can bid for 53 shares and multiples thereof.
ICICI Securities Ltd, Nuvama Wealth Management Ltd and ITI Capital Ltd are the lead managers of the issue. The company's shares are proposed to be listed on the BSE and NSE.
