• Source:PTI
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Allied Blenders and Distillers' IPO: A whiskey maker, Allied Blenders and Distillers' initial public offering received a 51 percent buy-in on the first day of bidding on Tuesday. According to NSE data, the initial share sale worth Rs 1,500 crore received bids for 2,01,69,680 shares against 3,93,71,669 shares on offer.

The non-institutional investors category received a subscription rate of 87 percent, while the individual investors (RIIs) category received 63 percent. The segment of qualified institutional buyers (QIBs) received a subscription rate of 2%. The initial public offer (IPO) has a fresh issue of up to Rs 1,000 crore and an offer for sale of up to Rs 500 crore. The initial selling price of the shares is between Rs 267-281 per share.

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Allied Blenders and Distillers Ltd said on Monday it has raised Rs 449 crore from anchor investors. Proceeds from the public issue of Rs 720 crore will be used to repay debt, a portion of which will be used for general corporate purposes as well. With a market share of over 8 percent in the Indian-Made Foreign Liquor (IMFL) market in terms of sales volume in FY2023, Allied Blenders, and Distillers is engaged in the manufacturing, marketing, and selling of alcoholic beverages in India and abroad.

The company's product portfolio includes several IMFL brands in whiskey, brandy, rum, and vodka. Some of the company's key brands include Office's Choice Whisky, Sterling Reserve Whisky, Jolly Roger Rum, and Class 21 Vodka.

ICICI Securities, Nuvama Wealth Management Limited (formerly Edelweiss Securities Limited), and ITI Capital are the lead managers of the offering. The company's shares are proposed to be listed on the Bahrain Stock Exchange and the NSE.

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