Allied Blenders and Distillers Ltd's Shares Surge on Stock Market Debut

Allied Blenders and Distillers Ltd, the maker of Officer's Choice Whisky, made a strong debut on the stock market. Shares listed at a premium of nearly 14 percent against the issue price. The company, engaged in the manufacturing and marketing of alcoholic beverages, saw significant investor interest.

In an impressive debut, shares of Allied Blenders and Distillers Ltd, renowned for Officer's Choice Whisky, listed with a premium of almost 14% above their initial issue price of Rs 281 on Tuesday.

The stock debuted at Rs 318.10 on the BSE, reflecting a 13.20% increase from the issue price, and shortly surged to Rs 322.40, marking a 14.73% rise.

Concurrently, on the NSE, the company's shares opened at Rs 320, registering a 13.87% jump. The company's market valuation has reached Rs 8,869.61 crore.

Notably, the initial public offering of Allied Blenders and Distillers attracted a subscription rate of 23.49 times on its final bidding day. The Rs 1,500-crore share sale consisted of a fresh issue worth up to Rs 1,000 crore and a Rs 500 crore offer for sale.

Proceeds from the fresh issue, amounting to Rs 720 crore, are planned for debt repayment and general corporate purposes. With over 8% market share in the Indian-Made Foreign Liquor market by sales volumes in fiscal 2023, Allied Blenders and Distillers manufactures, markets, and sells a variety of alcoholic beverages domestically and internationally.

The company's diverse product portfolio includes brands like Sterling Reserve Whisky, Jolly Roger Rum, and Class 21 Vodka, alongside its flagship Officer's Choice Whisky.

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