The maker of Officer's Choice whisky, fixed a price band of Rs 267 to Rs 281 per share for its Rs 1,500-crore initial public offering (IPO).
On Thursday, Allied Blenders and Distillers Ltd, the maker of Officer’s Choice whisky, fixed a price band of Rs 267 to Rs 281 per share for its Rs 1,500-crore initial public offering (IPO).
The company announced that the initial share sale will be open for the public from June 25-27 and the bidding for anchor investors will open for a day on June 24, broking firms have pegged the company’s market capitalisation to Rs 7,860 crore post-issue.
As a part of the OFS, Bina Kishore Chhabria, Resham Chhabria Jeetendra Hemdev and Neesha Kishore Chhabria will sell shares and 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 reports.
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The total debt on the company’s books was around Rs 808 crore as of December 2023.
which proceeds from the fresh issue worth Rs 720 crore will be used for the payment of debt and a portion will be used for general corporate purposes.
Half of the issue size has been reserved for qualified institutional investors, 35 per cent for retail investors the remaining 10 per cent for non-institutional investors, 35 per cent for retail investors and the remaining 10 per cent for non-institutional investors. Further, investors can bid for 53 shares and in multiples of or concerning to that.
Indian-Made Foreign Liquor (IMFL) market by sales volumes in fiscal 2023, Allied Blenders and Distillers are engaged in the manufacturing, marketing and sale of alcoholic beverages in India and abroad with a market share of over 8 per cent. The product portfolio of the firm comprises several brands of IMFL across whisky, brandy, vodka and rum.
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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 set to be listed on the BSE and NSE. Some of the major brands of the company include Officer’s Choice whisky, Sterling Reserve whisky, Jolly Roger rum and Class 21 vodka.
