Allied Blenders and Distillers IPO GMP Today: The subscription for the initial public offering ( IPO ) of Allied Blenders and Distillers Ltd, the maker of Officer's Choice whisky, will begin June 25.
Allied Blenders and Distillers IPO Price BandAllied Blenders and Distillers Ltd has fixed a price band of Rs 267 to Rs 281 per share for its Rs 1,500-crore initial public offering (IPO).
Allied Blenders and Distillers IPO GMP Price TodayAccording to several websites tracking grey market activities, the shares of Allied Blenders and Distillers Ltd are commanding a strong GMP in the range Rs 50 to Rs 75 over the issue price.
Allied Blenders and Distillers IPO Allotment DateThe tentative date for the basis of allotment of shares of Allied Blenders and Distillers IPO will be finalised on Friday, June 28.
Allied Blenders and Distillers IPO DetailsBroking firms have pegged the company's market capitalisation to Rs 7,860 crore post-issue.
Written by : Sarmeeli Mallick Updated Jun 23, 2024 | 10:38 AM IST Allied Blenders and Distillers IPO: Allied Blenders and Distillers Ltd has fixed a price band of Rs 267 to Rs 281 per share for its Rs 1,500-crore initial public offering (IPO).
Allied Blenders and Distillers IPO GMP Today: The subscription for the initial public offering ( IPO ) of Allied Blenders and Distillers Ltd, the maker of Officer's Choice whisky, will begin June 25. The bidding process will continue for three days and end on June 27.
Allied Blenders and Distillers IPO Price Band
Allied Blenders and Distillers Ltd has fixed a price band of Rs 267 to Rs 281 per share for its Rs 1,500-crore initial public offering (IPO).
Allied Blenders and Distillers IPO Subscription Date and Time
The initial share-sale will open for the public subscription of the liquor company IPO during June 25-27 and the bidding for anchor investors will open for a day on June 24, the company had announced earlier.
Allied Blenders and Distillers IPO GMP Price Today
According to several websites tracking grey market activities, the shares of Allied Blenders and Distillers Ltd are commanding a strong GMP in the range Rs 50 to Rs 75 over the issue price.
With the price band of 281, Allied Blenders and Distillers IPO's estimated listing price ranges from Rs 331 to Rs 356 (cap price + today's GMP) and the expected percentage gain/loss per share ranges from 18 per cent to 26.69 per cent.
Allied Blenders and Distillers IPO Allotment Date
The tentative date for the basis of allotment of shares of Allied Blenders and Distillers IPO will be finalised on Friday, June 28. The company will initiate refunds on Monday, July 1, while the shares will be credited to the demat account of allottees on the same day after the refund process.
Allied Blenders and Distillers IPO Details
Broking firms have pegged the company's market capitalisation to Rs 7,860 crore post-issue.
The Mumbai-based company's initial share-sale comprises fresh issuance of equity shares worth Rs 1,000 crore and an Offer-for-Sale (OFS) of shares to the tune of Rs 500 crore by promoters. As a part of the OFS, Bina Kishore Chhabria, Resham Chhabria Jeetendra Hemdev, and Neesha Kishore Chhabria will sell shares.
Proceeds from the fresh issue worth Rs 720 crore will be used for the payment of debt. Besides, a portion will be used for general corporate purposes.
The total debt on the company's books was around Rs 808 crore as of December 2023.
ICICI Securities Ltd, Nuvama Wealth Management Ltd, and ITI Capital Ltd are the book running lead managers to the issue.
About Allied Blenders and Distillers
Allied Blenders and Distillers started its journey in 1988 with the launch of flagship brand Officer's Choice Whisky which marked its entry into the mass premium whisky segment.
It is engaged in the manufacturing, marketing and sale of alcoholic beverages in India and abroad. The product portfolio of the firm comprises several brands of IMFL across whisky, brandy, rum and vodka.
Some of the major brands of the company include Officer's Choice whisky, Sterling Reserve whisky, Jolly Roger rum and Class 21 vodka.
Allied Blenders is the third largest Indian-Made Foreign Liquor (IMFL) company in India, in terms of annual sales volumes between fiscal 2014 and fiscal 2022. It is a leading exporter of IMFL, with an estimated market share of 11.8 per cent in the Indian whisky market for fiscal 2023.
As of March 31, 2023, the company's products were retailed across 79,329 outlets across 30 states and Union Territories in India.
The company said that half of the issue size has been reserved for qualified institutional investors, 35 per cent for retail investors and the remaining 10 per cent for non-institutional investors. Further, investors can bid for 53 shares and in multiples thereof.
Allied Blenders and Distillers IPO Listing Date
The equity shares of the company are proposed to be listed on the BSE and NSE. The likely date to be listed is on Tuesday, July 2.
(With agency inputs)
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
