Mumbai/Kolkata: Allied Blenders and Distillers has fixed the price band of ₹267/- to ₹281/- per Equity Share of face value ₹2/- each for its maiden initial public offer.
The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Tuesday, June 25, 2024, for subscription and close on Thursday, June 27, 2024.
Investors can bid for a minimum of 53 Equity Shares and in multiples of 53 Equity Shares thereafter. 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 Mumbai-based company started its journey in 1988 with the launch of flagship brand, Officer’s Choice Whisky which marked their entry into the mass premium whisky segment.
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.
The Offer is being made through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation to Qualified Institutional Buyers, not less than 15% of the net offer shall be available for allocation to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders.
