Allied Blenders and Distillers IPO: Rs 1,500 Crore Public Offering Set to Open on June 25

Allied Blenders and Distillers Ltd will launch its Rs 1,500 crore initial public offering (IPO) on June 25. The IPO includes a fresh issuance worth Rs 1,000 crore and an Offer-for-Sale of Rs 500 crore. Proceeds will be used for debt payment and general corporate purposes.

Allied Blenders and Distillers Ltd, known for its popular Officer's Choice Whisky, is gearing up to launch a substantial Rs 1,500 crore IPO on June 25. The move marks a significant step for the company, with the initial share-sale concluding on June 27.

The IPO comprises a fresh issuance of equity shares amounting to Rs 1,000 crore and an Offer-for-Sale (OFS) valued at Rs 500 crore by its promoters. Notably, key investors such as Bina Kishore Chhabria, Resham Chhabria Jeetendra Hemdev, and Neesha Kishore Chhabria will be divesting their shares.

Proceeds from the fresh issuance will primarily address the company's debt, which stood at Rs 808 crore as of December 2023. The remainder will be allocated for general corporate purposes. ICICI Securities Ltd, Nuvama Wealth Management Ltd, and ITI Capital Ltd are leading the issue, with plans for the company's shares to be listed on both the BSE and NSE.

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