Allied Blenders & Distillers Rs 1,000 cr IPO from June 25

Allied

Rama Krishna Sangem

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, has fixed the price band of ₹267/- to ₹281/- per Equity Share of face value ₹2/- each for its maiden initial public offer.

The company produces several liquor brads, including popular Officer’s Choice and Sterling Reserve whisky.

The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Tuesday, June 25, 2024, for subscription and close on Thursday, June 27, 2024. Investors can bid fora minimum of 53 Equity Shares and in multiples of 53 Equity Shares thereafter, a press releases said.

The IPO consists of fresh issue of up to Rs 1,000 crore and an offer for sale (OFS) of up to Rs 500 crore by Promoters. The proceeds from the fresh issue will be utilised to the extent of Rs 720 crore for prepayment or scheduled re-payment of a portion of certain outstanding borrowings availed by the company and 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 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.

 

Company journey began in 1988

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, their products were retailed across 79,329 retail outlets across 30 States and Union Territories in India.

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.

Rama Krishna Sangem

Ramakrishna chief editor of excel India online magazine and website

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Rama Krishna Sangem

Excel India national news magazine is a media startup founded and piloted by Rama Krishna Sangem, a Hyderabad based senior journalist with over three decade experience in the field of media, mostly in print journalism. His rich experience in reporting for both Telugu and English newspapers and heading a TV news channel and some online outfits will be of immense use to this venture. Excel India English news magazine seeks to fill the gap of analytical understanding to our readers who today are confronted with myriad media platforms. Our online version not only offers regular updates and commentary on happenings around us, but also gives larger stories not limited by space constraints of a print magazine. Excel India is ably run by a team of senior journalists committed to values and quality standards in the profession. We urge you all to support and guide us in this endeavour. Reach us at excelindiaweb123@gmail.com