Allied Blenders Secures Rs 449 Crore From Anchor Investors Prior To IPO

Officer's Choice Whisky-maker Allied Blenders and Distillers Ltd. has raised Rs 449 crore from anchor investors ahead of its initial public offering.

The company allotted 1.6 crore shares at Rs 281 apiece to 17 anchor investors.

Nippon Life India Trustee Ltd. (A/C) Nippon India Small Cap Fund got the highest allocation of 31.17%. Authum Investment and Infrastructure Ltd. got a 11.09% stake in the whisky-maker's company, while Jupiter India Fund got a 9.94% stake and Winro Commercial and Chartered Finance and Leasing Ltd. secured 8.89%. Troo Capital got 8.88% in pre-IPO round fundraising.

Three domestic mutual funds have applied through a total of four schemes, Allied Blenders and Distillers said in an exchange filing on Monday. They have collectively netted 33.40% of the anchor portion of Rs 150 crore.

Nippon India, JM Financial and LIC are the fund houses in this category.

The leading book managers for the anchor round were ICICI Securities Ltd., Nuvama Wealth Management Ltd. and ITI Capital Ltd.

The company will launch its initial public offering on Tuesday to raise up to Rs 1,500 crore.

The whisky maker has set a price range of Rs 267–281 per share for its three-day IPO, which is a mix of fresh issues of equity shares worth Rs 1,000 crore and an offer-for-sale worth Rs 500 crore by the existing shareholders. The minimum application lot size is 53 shares.

The offer, which concludes on Thursday, is set to list on the BSE and the National Stock Exchange.