Officer's Choice Whisky Allied Blenders Sets IPO Price Band At Rs 267-281 Apiece
Allied Blenders and Distillers Ltd., the maker of Officer's Choice whisky, has set a price band of Rs 267–281 per share for its upcoming initial public offering. The company aims to raise up to Rs 1,500 crore in the primary market through an offer for sale totaling Rs 500 crore and a fresh issue of shares worth Rs 1,000 crore.
The issue opens for subscription on June 25 and closes on June 27. The anchor portion of the offer will open on June 24. The minimum lot size for bidding will be 53 shares, with further bids to be made in multiples, according to the price band advertisement released by the company on Thursday.
Promoters, Bina Kishore Chhabria, Resham Chhabria Jeetendra Hemdev, and the promoter group, Neesha Kishore Chhabria, will sell their shares in the OFS.
ICICI Securities Ltd., Nuvama Wealth Management Ltd. and ITI Capital Ltd. will serve as the book-running lead managers for Allied Blenders' public offering.
Investors who have bid for the issue can check the Allied Blenders And Distillers IPO Allotment status here.
Business
Allied Blenders is involved in the manufacturing, marketing, and sale of alcoholic beverages in India and internationally.
The company's product portfolio includes various brands of Indian-made foreign liquor spanning whisky, brandy, rum, and vodka. Notable brands under its umbrella are Officer's Choice whisky, Sterling Reserve whisky, Jolly Roger rum and Class 21 Vodka.
In the fiscal year 2023, the company captured more than 8% of the IMFL market by sales volume.
Proceeds from the fresh issue will be used by the alcoholic beverage maker for debt repayment and general corporate purposes.
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