For the Rs 1,500 cr issue, Allied Blenders & Distillers price band set at ₹267/- to ₹281/- per equity share
MUMBAI, June 20 (The CONNECT) – Allied Blenders and Distillers, the largest Indian-owned Indian-made foreign liquor (IMFL) company, will hit the primary market on Tuesday, June 25, 2024 with a fresh issue of Rs 1,000 crore and an offer for sale of Rs 500 crore.
The company, with a product range of whisky, brandy, rum, vodka and gin, has fixed the price band of ₹267 to ₹281 per equity share of face value ₹2 each for its IPO which will close on Thursday, June 27, 2024. Investors can bid for a minimum of 53 equity shares and in multiples of 53 thereafter.
Rs 720 crore from the fresh issue will be utilised for settling some of its dues, apart from general corporate purposes.
The Mumbai-based company is the third largest IMFL company in India, in terms of annual sales volumes between Fiscal 2014 and 2022 and among the four spirits companies in India with a pan-India sales and distribution footprint. It is also a leading exporter of IMFL, with an estimated market share of 11.8% in the Indian Whisky market for fiscal 2023.
The Company started its journey in 1988 with the launch of flagship brand, Officer’s Choice Whisky which marked their entry into the mass premium whisky segment.
From 2016 to 2019, Officer’s Choice Whisky was among the top-selling whisky brands globally in terms of annual sales volumes. Over the years, ABD has expanded and introduced products across various categories and segments.
As of December 31, 2023, its product portfolio comprised 16 major brands of IMFL across whisky, brandy, rum, and vodka. ABDs brands which include Officer’s Choice Whisky, Sterling Reserve, ICONiQ Whisky and Officer’s Choice Blue, which are ‘Millionaire Brands’ – having sold over a million cases of 9-litres each in one year.
As of March 31, 2023, their products were retailed across 79,329 outlets across 30 States and Union Territories.
ICICI Securities Limited, Nuvama Wealth Management Limited, and ITI Capital Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.
The Offer is being made through the Book Building Process, wherein 50% of the offer shall be available for allocation to Qualified Institutional Buyers, 15% to non-institutional bidders and 35% retail individual bidders.
