Allied Blenders and Distilleries IPO To Hit Street Next Week

Allied Blenders and Distillers is an Indian-made foreign liquor company. The company offers four main categories of Indian-made foreign liquor, including whisky, brandy, rum, and vodka. In addition, they sell packaged drinking water under the Officer’s Choice, Officer’s Choice Blue, and Sterling Reserve brands. The company owns and operates a distillery in Rangapur, Telangana, which is spread over 74.95 acres and has a built-up area of over 25,000 square meters. The company’s in-house distillation capacity of extra neutral alcohol (ENA), the key material used in manufacturing its products, is 54.75 million litres annually.

About the Issue

The Allied Blenders IPO is a book-built issue worth Rs 1,500.00 crores, comprising a fresh issue of Rs 1,000.00 crores and an offer for sale of Rs 500.00 crores. The IPO will open for subscription on June 24, 2024, and close on June 26, 2024. The allotment is expected to be finalized on Thursday, June 27, 2024. Allied Blenders IPO is set to be listed on both the BSE and NSE, with a tentative listing date of Monday, July 1, 2024. This offering aims to attract significant investor interest in the market.

ICICI Securities Limited, Nuvama Wealth Management Limited, and Iti Capital Ltd are the book-running lead managers of the Allied Blenders IPO, while Link Intime India Private Ltd is the registrar for the issue.

Objectives of the Issue

The company intends to utilize the net proceeds for two main purposes: the prepayment or scheduled repayment of a portion of its existing borrowings and general corporate purposes. These objectives aim to strengthen the company’s financial position and support its ongoing operational and strategic initiatives.

Conclusion

The Allied Blenders IPO, valued at Rs 1,500.00 crores, offers a strategic financial opportunity by combining fresh issuance and an offer for sale. The funds raised will primarily be used for repaying outstanding borrowings and general corporate purposes, enhancing the company’s financial stability and operational capabilities. With its listing on BSE and NSE scheduled for July 1, 2024, the IPO is poised to attract considerable investor interest.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.