July 2, 2024
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Allied Blenders IPO GMP, Details to watch, Guidance & Subscription Status @ Chanakyanipothi.com
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What was the last GMP of Allied Blenders IPO#
GMP Rs. 60
Post Listing Review of Allied Blenders IPO#
On July 2nd, 2024, the scrip got listed at RS. 320, premium of 13.88% over the issue price. The listing has been in line with the expectations of the grey market players.
Allied Blenders Subscription Status ClosedPrice Rs. 281 Lot 53 shares, Rs. 1106.34 Cr. |
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| QIB | B HNI X | S HNI X | NII X | RII X | Total X |
| 53.01 | 39.76 | 22.63 | 34.05 | 4.65 | 24.80 |
| Applications: 15,11,316 / 4.30x Amount recd. – Crore |
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Allied Blenders IPO Company Details
Allied Blenders is the largest Indian-owned Indian-made foreign liquor company and the third largest IMFL company in India, in terms of annual sales volumes between Fiscal 2014 and Fiscal 2021. It is
one of the only four spirits companies in India with a pan-India sales and distribution footprint, and a and a leading exporter of IMFL, in terms of annual sales volumes between Fiscal 2019 to Fiscal 2021 with an estimated peak share of 20% in Fiscal 2021.
Its flagship brand, Officer’s Choice Whisky was launched in 1988 with its entry into the mass premium whisky segment. Officer’s Choice Whisky has been among the top selling whisky brands globally in terms of annual sales volumes between calendar year 2016 and 2019. Over the years, it has expanded and introduced products across various categories and segments. As of March 31, 2022, its product portfolio comprised 10 major brands of IMFL across whisky, brandy, rum and vodka. Certain of its brands, such as, Officer’s Choice Whisky, Sterling Reserve and Officer’s Choice Blue, are ‘Millionaire Brands’ or brands that have sold over a million 9-litre cases in one year.
Its product range includes four main categories of IMFL, i.e., whisky, brandy, rum and vodka. We also sell packaged drinking water under our Officer’s Choice, Officer’s Choice Blue and Sterling Reserve brands.
The Company has over the years established market leadership in the alcoholic beverages market in India with a market share of 8.2% in IMFL market by sales volumes in Fiscal 2021 , with sales across 30 States and Union Territories, as of December 31, 2021. Over the years, it has developed an extensive pan-India sales footprint and as of December 31, 2021 it has 12 regional sales support offices, and pan-India route-tomarket capabilities covering all channels and alcohol permitted States and Union Territories. As of March 31, 2021, its products were retailed across 64,001 outlets in India In addition, as of December 31, 2021, it exported its products to 22 international markets, including countries in the Middle East, North and South America, Africa, Asia and Europe.
Some of the qualitative factors and our strengths
• Among the largest IMFL company in India with a diversified and contemporary product portfolio;
• Strong brand recognition;
• Strategically located, large scale and advanced manufacturing facilities with a sophisticated research and development centre;
• Access to extensive pan-India distribution network with ability to scale; and
• Well-positioned to capture tailwinds in the Indian IMFL industry.
For more information, click www.abdindia.com
The Promoters of Allied Blenders IPO
Kishore Rajaram Chhabria, Bina Kishore Chhabria, Resham Chhabria, Jeetendra Hemdev,Bina Chhabria Enterprises Pvt ltd,BKC Enterprises Pvt ltd , Oriental Radios Pvt. ltd & Officer’s Choice Spirits Pvt Ltd
Allied Blenders IPO Main Objects
Prepayment or scheduled re-payment of a portion of certain outstanding borrowings availed by the Company;.
Allied Blenders IPO Details
IPO opens on 25 June 2024
IPO closes on 27 June 2024
Issue Type: Book Built Issue IPO
Issue : up to 53380782 Shares/ Rs.1500 Crore
* Fresh Issue of 35587199 Shares/ Rs.1000 Cr
* Offer for Sale 17793595 Shares/ Rs. 500 Cr
Face Value per share : Rs. 2
Allied Blenders IPO Price Band: Rs. 267-281
Allied Blenders IPO Retail Lot Size: 53 Shares
Discount to Employees Rs. 26 per share
Allied Blenders IPO Listing will at BSE,NSE
Shares offered to
QIB (50%) 26690391 Shares = Rs 750 Crore
NII (15%) 8007117 Shares = Rs 225 Crore
RII (35%) 18683274 Shares = Rs 525 Crore
Lot size: 53 Shares = 352514 Forms
Min Retail Application : 53 Shares, Rs. 14893
Max Retail Application : 689 Shares, Rs 193609
S HNI Application (Min) 742 Shares, Rs. 208502
S HNI Application (Max) 3551 Shares, Rs. 997831
B HNI Application (Min) 3604 Shares, Rs. 1012724
Allied Blenders IPO Tentative timeTable
IPO Allotment on 28 June 2024
Unblocking of ASBA 1 July 2024
Credit to Demat 1 July 2024
Listing on 2 July 2024
Allied Blenders IPO Analysis : Financial & Analytical Ratios
Earnings per Share 2020-21 Rs 0.10
Earnings per Share 2021-22 Rs 0.06
Earnings per Share 2022-23 Rs 0.07
Return on Net Worth: 20-21: 0.66%
Return on Net Worth: 21-22: 0.37 %
Return on Net Worth: 22-23 0.30 %
Book Value of the Share as on 31.03.2023 Rs 16.64
Book Value of the Share after the IPO Rs 50.38
Offer price at upper price band Rs. 281
Ratio Analysis
Upper Price Band/last EPS: 4014
Upper offer price/Book Value Ratio: 16.89
Upper offer price/BV after IPO Ratio: 5.58
Allied Blenders IPO Peer Comparison:
United Spirits @ PE Multiple of 73.16
Radico Khaitan @ PE Multiple of 95.87
Globus Spirits @ PE Multiple of 17.26
Allied Blenders IPO Lead Managers
ICICI Securities,Axis Capital,J M Financial ,Kotak Mahindra Capital Company, Equirus Capital,
Registrar to Allied Blenders IPO
Linkintime India Pvt Ltd.
Registered Office of Allied Blenders
394-C Lamington Chambers, Lamington Road, Mumbai – 400004, Maharashtra, India
Company Secretary & Compliance Officer: Ritesh Ramniklal Shah
Allied Blenders IPO Guidance: Will update soon
#This is only coverage of News related to Grey Market . We donot deal in Grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
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