Officer's Choice Whisky Maker Allied Blenders’s IPO Coming On June 25: Key Things About The Rs 1,500-Crore IPO

Allied Blenders that makes Officer's Choice Whisky, Sterling Reserve Whisky, Jolly Roger Rum and Class 21 Vodka said that proceeds from the fresh issue worth Rs 720 crore will be used for the payment of debt.

New Delhi: Allied Blenders and Distillers Ltd, the maker of Officer's Choice Whisky, is going to launch its initial public offering (IPO) on June 25.

Allied Blenders and Distillers had filed its preliminary IPO papers with Sebi in January this yearn and had got the regulator’s approval in May to launch the IPO.

Here Are The Key Things To Know About Allied Blenders’s IPO

1. The initial share-sale of the Rs 1,500 crore IPO will end on June 27.

2. Bidding for anchor investors has been reserved for June 24, a day ahead of the IPO.

3. 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, according to the red herring prospectus (RHP).

4. 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, said the company.

5. Company’s promoters --Bina Kishore Chhabria, Resham Chhabria Jeetendra Hemdev and Neesha Kishore Chhabria --will sell shares as a part of the OFS.

6. ICICI Securities Ltd, Nuvama Wealth Management Ltd and ITI Capital Ltd are the book running lead managers to the issue.

7. The equity shares of the company are proposed to be listed on the BSE and NSE.

The total debt on the company's books was around Rs 808 crore as of December 2023.

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.

With PTI Inputs