May 14, 2024
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Allied Blenders and Distillers received final not from the capital markets regulator Sebi to raise Rs.1500 crore through an IPO. Under the issue, shares will offered at a face value of ?2 and is a mix of fresh issue of up to Rs.1000 crore and an offer for sale of up to Rs 500 crore by promoters.
Net proceeds from the IPO will be used by the company for prepayment or scheduled re-payment of a portion of certain outstanding borrowings and for general corporate purposes, it said.The Mumbai-based company was established in 1988 initially with its Officer’s Choice Whisky in the mass premium segment with a market share of 11.8% in Fiscal 2023 in the Indian whisky market.
ICICI Securities Limited, Nuvama Wealth Management Limited, and ITI Capital Limited, are the book-running lead managers.
