Allied Blenders and Distillers Ltd Secures Rs 449 Crore from Anchor Investors Ahead of IPO

Allied Blenders and Distillers Ltd, the maker of Officer's Choice Whisky, raised Rs 449 crore from anchor investors ahead of its IPO. The company's market cap is pegged at Rs 7,860 crore post-issue. Proceeds will help reduce debt and fund general corporate purposes. The public issue opens from June 25-27.

In a significant financial move, Allied Blenders and Distillers Ltd, known for its flagship Officer's Choice Whisky, has successfully secured Rs 449 crore from anchor investors just a day before its initial public offering (IPO) is set to open for subscription.

The notable anchor investors, as confirmed by a circular on the BSE website, include prominent names such as Nippon India Mutual Fund, LIC MF, JM Financial MF, among others. The company has allotted 1.6 crore equity shares to these 17 funds at Rs 281 per share, marking the upper limit of the price band.

This strategic allocation translates to a significant transaction size ahead of the Rs 1,500-crore issue, set at a price band between Rs 267 and Rs 281 per share. Post-issue, the company's market capitalisation is anticipated to reach Rs 7,860 crore. The issue aims to raise funds primarily for debt repayment and corporate expenses, with shares available for subscription from June 25 to June 27.

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