Allied Blenders and Distillers, the largest Indian-owned producer of foreign liquor, offers a diverse product range including whisky, brandy, rum, vodka, and gin. The company has set the price range for its initial public offering (IPO) at ₹267 to ₹281 per equity share with a face value of ₹2 each. The IPO will commence on Tuesday, June 25, 2024, and will remain open for subscription until Thursday, June 27, 2024. Investors have the option to bid for a minimum of 53 equity shares and in multiples thereof. The IPO consists of fresh issue of up to Rs 1,000 crore and an offer for sale (OFS) of up to Rs 500 crore by Promoters.
The proceeds from the fresh issue will be utilised to the extent of Rs 720 crore for prepayment or scheduled re-payment of a portion of certain outstanding borrowings availed by the company and general corporate purposes.
The company, headquartered in Mumbai, ranks as the third-largest IMFL producer in India by annual sales volumes from Fiscal 2014 to Fiscal 2022. It is one of only four spirits companies in India with a nationwide sales and distribution network and is a prominent IMFL exporter, holding an estimated 11.8% market share in the Indian Whisky market for Fiscal 2023. The company began its operations in 1988 with the introduction of its flagship brand, Officer’s Choice Whisky, entering the mass premium whisky segment.
From 2016 to 2019, Officer’s Choice Whisky was among the top-selling whisky brands globally in terms of annual sales volumes. Over the years, ABD has expanded and introduced products across various categories and segments.
As of December 31, 2023, their product portfolio comprised 16 major brands of IMFL across whisky, brandy, rum, and vodka. ABDs brands which includes Officer’s Choice Whisky, Sterling Reserve, ICONiQ Whisky and Officer’s Choice Blue, are ‘Millionaire Brands’ or brands have sold over a million 9-liter cases in one year.
As of March 31, 2023, their products were retailed across 79,329 retail outlets across 30 States and Union Territories in India.
ICICI Securities Limited, Nuvama Wealth Management Limited, and ITI Capital Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.
