Allied Blenders and Distillers Ltd logo.
Credit: abdindia.com
New Delhi: Allied Blenders and Distillers Ltd, the maker of Officer's Choice Whisky, is set to launch its Rs 1,500 crore initial public offering (IPO) on June 25.
The initial share-sale will conclude on June 27 and the bidding for anchor investors will open for a day on June 24, according to the red herring prospectus (RHP).
The initial share-sale comprises fresh issuance of equity shares worth Rs 1,000 crore and an Offer-for-Sale (OFS) of shares to the tune of Rs 500 crore by promoters.
As a 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 the payment of debt, besides, 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, which filed preliminary IPO papers with Sebi in January, obtained its nod in May to launch the public issue.
With a market share of over 8 per cent in Indian-Made Foreign Liquor (IMFL) market by sales volumes in fiscal 2023, Allied Blenders and Distillers is engaged in the manufacturing, marketing and sale of alcoholic beverages in India and abroad.
The product portfolio of the firm comprises several brands of Indian-Made Foreign Liquor (IMFL) across whisky, brandy, rum and vodka.
Some of the major brands of the company include 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 are the book running lead managers to the issue. The equity shares of the company are proposed to be listed on the BSE and NSE.