Allied Blenders & Distillers had an estimated market share in sales volume of 11.8 per cent in the Indian whisky market for FY23
BS Reporter Mumbai
Allied Blenders & Distillers’ initial public offering (IPO) was subscribed 23.5 times on Thursday, the concluding day of the issue. The institutional investor portion was subscribed 50 times, the wealthy investor or high-net-worth individual (HNI) portion was subscribed 32.40 times, the retail investor portion was subscribed 4.5 times, and the portion reserved for the employees of the company 9.9 times.
The company had priced its IPO between Rs 267 to Rs 281 per share. The Rs 1,500 crore IPO comprised a fresh issue of Rs 1,000 crore and an offer for sale (OFS) of Rs 500 crore. The company had allotted shares worth Rs 449 crore ahead of the IPO. The company plans to utilise the net proceeds of the fresh issue to repay debts.
The company is an Indian-owned Indian-made foreign liquor (IMFL) company. Allied Blenders & Distillers had an estimated market share in sales volume of 11.8 per cent in the Indian whisky market for FY23. As of December 31, 2023, its product portfolio comprised 16 major brands of IMFL across whisky, brandy, rum, and vodka.
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First Published: Jun 27 2024 | 9: 03 PM IST
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