Allied Blenders, Maker of Officer's Choice Whisky, Gets SEBI Nod For Rs 1,500-Crore IPO

Allied Blenders and Distillers Ltd.'s initial public offering received approval from the Securities and Exchange Board of India (SEBI) on Tuesday.

The maker of Officer's Choice Whisky aims to raise up to Rs 1,500 crore through an offer-for-sale totaling Rs 500 crore and a fresh issue of shares amounting to Rs 1,000 crore.

Promoter Bina Kishore Chhabria will sell shares worth Rs 250 crore, while Resham Chhabria Jeetendra Hemdev, and the promoter group Neesha Kishore Chhabria will each offload shares worth Rs 125 crore.

ICICI Securities Ltd., Nuvama Wealth Management Ltd., and ITI Capital Ltd. will serve as the book-running lead managers for Allied Blenders' public offering.

Proceeds from the fresh issue will be used by the alcoholic beverage maker for debt repayment and general corporate purposes.

Allied Blenders and Distillers is involved in the manufacturing, marketing, and sale of alcoholic beverages in India and internationally.

SEBI also approved Vraj Iron and Steel's plan to raise up to Rs 171 crore through a public issue. The Chhattisgarh-based company's proposed IPO comprises only fresh issuance, with Aryaman Financial Services Ltd. acting as the sole book-running lead manager.