Allied Blenders and Distillers Ltd, the maker of Officer’s Selection Whisky, is ready to launch its Rs 1,500 crore preliminary public providing (IPO) on June 25.

The preliminary share-sale will conclude on June 27 and the bidding for anchor buyers will open for a day on June 24, based on the crimson herring prospectus (RHP).

The preliminary share-sale contains contemporary issuance of fairness shares value Rs 1,000 crore and an Supply-for-Sale (OFS) of shares to the tune of Rs 500 crore by promoters.

As part of the OFS, Bina Kishore Chhabria, Resham Chhabria Jeetendra Hemdev and Neesha Kishore Chhabria will promote shares.

Proceeds from the contemporary difficulty value Rs 720 crore will probably be used for the fee of debt, in addition to, a portion will probably be used for common company functions.

 

The overall debt on the corporate’s books was round Rs 808 crore as of December 2023.

Allied Blenders and Distillers, which filed preliminary IPO papers with Sebi in January, obtained its nod in Could to launch the general public difficulty.

With a market share of over 8 per cent in Indian-Made International Liquor (IMFL) market by gross sales volumes in fiscal 2023, Allied Blenders and Distillers is engaged within the manufacturing, advertising and sale of alcoholic drinks in India and overseas.

The product portfolio of the agency contains a number of manufacturers of Indian-Made International Liquor (IMFL) throughout whisky, brandy, rum and vodka.

Among the main manufacturers of the corporate embrace Officer’s Selection Whisky, Sterling Reserve Whisky, Jolly Roger Rum and Class 21 Vodka.

ICICI Securities Ltd, Nuvama Wealth Administration Ltd and ITI Capital Ltd are the e book working lead managers to the problem. The fairness shares of the corporate are proposed to be listed on the BSE and NSE.

First Revealed: Jun 19 2024 | 11:11 PM IST