The initial public offering of Allied Blenders & Distillers Ltd. was subscribed 1.51 times on the second day on Wednesday. It was subscribed 0.51 times, or 51% on the first day, with bids primarily from the portion earmarked for workers. The whisky maker is looking to raise up to Rs 1,500 crore during its three-day share sale that will close on Thursday.
The IPO consists of a mix of fresh issues of equity shares worth Rs 1,000 crore and an offer for sale worth Rs 500 crore by the existing shareholders. The company has set the price band at Rs 267–281 apiece, with a minimum application lot size of 53 shares.
It has raised Rs 449 crore from anchor investors ahead of its IPO.
Issue Details
Issue opens: June 25.
Issue closes: June 27.
Issue price: Rs 267–281 per share.
Fresh issue: Rs 1,000 crore.
Offer for sale: Rs 500 crore.
Total issue size: Rs 1,500 crore.
Bid lot: 53 shares.
Listing: BSE and NSE.
Business
Allied Blenders started with a single-brand in 2008— Officer's Choice Whisky. The company now offers a diverse range of products, including whisky, brandy, rum, and vodka.
It specialises in Indian made foreign liquor and packaged drinking water under the Officer's Choice, Officer's Choice Blue, and Sterling Reserve brands.
Officer's Choice Whisky, launched in 1988, marked the company's entry into the mass premium whisky market. It has been one of the top-selling whisky brands globally by annual sales volume from 2016 to 2019.
Subscription Status: Day 2Â
The IPO has been subscribed 1.51 times as of 5 p.m. on Wednesday.
Institutional investors: 0.14 times or 14%.
Non-institutional investors: 2.98 times.
Retail investors: 1.65 times.
Employee reserved: 5.08 times.
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