ABD’s product portfolio comprised 16 major brands of IMFL across whisky, brandy, rum, and vodka.
MUMBAI, June 27 (The CONNECT) – The Initial Public Offering of liquor major Allied Blenders & Distillers Limited was subscribed 23.49 times on the final day of bidding.
The issue received bids of 92,49,01,039 shares against the offered 3,93,71,669 equity shares, at a price band of ₹267-281, according to the data available on the stock exchanges.
Qualified Institutional Buyer portion and Non-Institutional Investors segment and were subscribed 50.37 times and 32.35 times respectively. Employee portion was subscribed 9.64 times and Retail oortion was subscribed 4.42 times.
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 issue. The equity shares are proposed to be listed on the BSE and NSE.
Company Information
Allied Blenders and Distillers is the largest Indian-owned Indian-made foreign liquor (“IMFL”) company with a product range which includes five main categories, i.e., whisky, brandy, rum, vodka and gin.
The Mumbai-based company is the third largest IMFL company in India, in terms of annual sales volumes between Fiscal 2014 and Fiscal 2022 and also one of the only four spirits companies in India with a Pan-India sales and distribution footprint, and is 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, their product portfolio comprised 16 major brands of IMFL across whisky, brandy, rum, and vodka. ABDs brands which includes Officer’s Choice Whisky, Sterling Reserve, ICONiQ Whisky and Officer’s Choice Blue, are ‘Millionaire Brands’ or brands have sold over a million 9-liter cases in one year.
As of March 31, 2023, ABD’s products were retailed across 79,329 outlets across 30 States and Union Territories.
