Officers Choice whisky maker Allied Blenders IPO to open on June 25, price band Rs 267-281 per share

Officers Choice whisky maker Allied Blenders IPO to open on June 25, price band Rs 267-281 per share

Allied Blenders & Distillers Ltd, maker of Officer's Choice whisky, on June 20 fixed a price range 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 to the public during June 25-27 and bids for anchor investors will open for a single day on June 24.

Brokerage firms have estimated the company's market capitalisation at Rs 7,860 crore after the issue.

The initial share sale comprises a fresh issue of equity shares worth Rs 1,000 crore and an offer for sale (OFS) of shares worth Rs 500 crore by the promoters.

As part of the OFS, Bina Kishor Chhabria, Resham Chhabria, Jitendra Hemdev and Nisha Kishor Chhabria will sell shares.

The amount of Rs 720 crore raised from the new issue will be used to repay the debt. Apart from this, a part will be used for general corporate purposes.

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

Half of the issue size has been reserved for qualified institutional investors, 35% for retail investors and the remaining 10% for non-institutional investors. Further, investors can bid in lots of 53 shares and multiples thereof.

With a market share of over 8% in the Indian Made Foreign Liquor (IMFL) market by sales volume in FY23, Allied Blenders & Distillers is engaged in the manufacturing, marketing and sale of alcoholic beverages in India and abroad. The firm's product portfolio includes several brands of IMFL across whisky, brandy, rum and vodka.

Some of the company's key brands include Officer's Choice Whisky, Sterling Reserve Whisky, Jolly Roger Rum and Class 21 Vodka.

ICICI Securities Limited, Nuvama Wealth Management Limited and ITI Capital Limited are the Book Running Lead Managers to the Issue. The equity shares of the Company are proposed to be listed on BSE and NSE.

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