Allied Blenders and Distillers Announces Rs 1,500-Crore IPO

Allied Blenders and Distillers Ltd, known for Officer's Choice whisky, has set a price band of Rs 267 to Rs 281 per share for its Rs 1,500-crore IPO. The share-sale includes both fresh issuance and an Offer-for-Sale by promoters, with proceeds aimed at debt repayment and corporate purposes.

Allied Blenders and Distillers Ltd, known primarily for its Officer's Choice whisky, has established a price band ranging from Rs 267 to Rs 281 per share for its Rs 1,500-crore initial public offering (IPO) set to launch soon.

The initial share-sale will be open to the public from June 25-27, while a special bidding period for anchor investors is scheduled for June 24. Analysts predict that the company's market capitalization will reach approximately Rs 7,860 crore post-issue.

This IPO includes a fresh equity issuance worth Rs 1,000 crore and an Offer-for-Sale (OFS) totaling Rs 500 crore by promoters such as Bina Kishore Chhabria, Resham Chhabria Jeetendra Hemdev, and Neesha Kishore Chhabria. Proceeds from the fresh issue, amounting to Rs 720 crore, will predominantly be allocated for debt repayment, with the remaining funds directed towards general corporate purposes. Investors will have the opportunity to bid for 53 shares and multiples thereof, and the company's equity shares are expected to be listed on both the BSE and NSE.

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