Allied Blenders gets SEBI nod for Rs 1,500 cr IPO

The shares are offered at a face value of Rs 2 and are a mix of fresh issue of up to Rs 1,000 crore and an offer for sale (OFS) of up to Rs 500 crore by Promoters and Promoter Group.
The SEBI Bhavan at BKC Bandra in Mumbai.
The SEBI Bhavan at BKC Bandra in Mumbai. FILE Photo | EPS

NEW DELHI: Liquor maker Allied Blenders and Distillers has received a nod from the capital markets regulator, the Securities and Exchange Board of India (SEBI), to raise Rs 1,500 crore through an initial public offering (IPO). The company had refiled its IPO papers with Sebi on January 15, 2024.

The shares are offered at a face value of Rs 2 and is a mix of fresh issue of up to Rs 1,000 crore and an offer for sale (OFS) of up to Rs 500 crore by Promoters and Promoter Group.

The OFS comprises up to Rs 250 crore by Bina Kishore Chhabria, Rs 125 crore by Resham Chhabria Jeetendra Hemdev and Rs 125 crore by Neesha Kishore Chhabria. As per the company’s filing, the proceeds from its fresh issuance to the extent of Rs 720 crore will be utilised for prepayment or scheduled re-payment of a portion of certain outstanding borrowings availed by the company and for general corporate purposes.

The Mumbai-based companysells Officer’s Choice Whisky among other brands in the mass premium segment. It claims to have a market share of 11.8% in fiscal 2023 in the Indian market. The company said it has shifted its focus from mass premium whisky segment to premiumization, with the launch of brands like ICONiQ White Whisky.

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