Allied Blenders and Distillers Ltd, renowned for its Officer's Choice Whisky, is set to launch its initial public offering valued at Rs 1,500 crore on June 25. The IPO will conclude on June 27, with anchor investor bidding scheduled for June 24, according to details outlined in the red herring prospectus.
The IPO comprises a fresh issue of equity shares amounting to Rs 1,000 crore alongside an Offer-for-Sale worth Rs 500 crore by promoters.
Prominent individuals including Bina Kishore Chhabria, Resham Chhabria, Jeetendra Hemdev, and Neesha Kishore Chhabria are expected to sell their shares in the Offer for Sale.
Of the Rs 720 crore expected from the fresh issue, a significant portion will go towards debt repayment, with the remainder earmarked for general corporate purposes.
As of December 2023, the company held a total debt of approximately Rs 808 crore.
Allied Blenders and Distillers received approval from SEBI in May to proceed with the IPO, following its initial filing in January.
In the fiscal year 2023, the company captured more than 8% of the Indian-Made Foreign Liquor market by sales volume. It operates primarily in the manufacturing, marketing, and sale of alcoholic beverages within India and internationally.
The company's product portfolio includes various brands of Indian-Made Foreign Liquor spanning whisky, brandy, rum, and vodka.
Notable brands under its umbrella are Officer's Choice Whisky, Sterling Reserve Whisky, Jolly Roger Rum, and Class 21 Vodka.
ICICI Securities Ltd, Nuvama Wealth Management Ltd, and ITI Capital Ltd have been appointed as the book-running lead managers for the IPO. Allied Blenders and Distillers aims to list its equity shares on both the BSE and NSE.
(With inputs from PTI.)
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