The company has allotted 1.6 crore equity shares to 17 funds at Rs. 281, which is also the upper end of the price band. This Rs. 449 crore translating into a transaction size, it added.
per share Rs. 267 to Rs. 281 with a price band of Rs. 1,500 crore issue will open for public subscription from June 25-27.
Initial share sale at Rs. 1,000 crore worth of fresh issue of equity shares and by promoters Rs. 500 crore including an offer-for-sale (OFS) of shares.
As part of OFS, Bina Kishore Chhabria, Resham Chhabria Jeetendra Hemdev and Nisha Kishore Chhabria will sell the shares.
Broking firms have pegged the company’s post-issue market capitalization at Rs. 7,860 crore has been estimated.
Rs. The proceeds from the fresh issue of Rs 720 crore will be used for debt repayment and a portion will be used for general corporate purposes.
By December 2023, the total debt on the company’s books will be around Rs. 808 crores.
Half of the issue size is reserved for qualified institutional investors, 35 per cent for retail investors and the remaining 10 per cent for non-institutional investors.
Additionally, investors can bid for 53 shares and multiples thereof.
With a market share of over 8 percent in the Indian Made Foreign Liquor (IMFL) market by sales volume in FY 2023, Allied Blenders & Distillers is engaged in the manufacturing, marketing and sale of alcoholic beverages in India and abroad.
The firm’s product portfolio includes several brands of IMFL in whisky, brandy, rum and vodka.
Some of the company’s flagship brands include Officers Choice Whisky, Sterling Reserve Whisky, Jolly Roger Rum and Class 21 Vodka.
ICICI Securities Limited, Nuwama Wealth Management Limited and ITI Capital Limited are the book running lead managers of the issue. It is proposed to list the equity shares of the company on BSE and NSE.
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