Ahmedabad: Allied Blenders and Distillers Indian-made foreign liquor company with a product range which includes five main categories, i.e., whisky, brandy, rum, vodka and gin, has fixed the price band of Rs 267/- to Rs 281/- per Equity Share of face value Rs 2/- each for its maiden initial public offer. The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Tuesday, June 25, 2024, for subscription and close on Thursday, June 27, 2024. Investors can bid for a minimum of 53 Equity Shares and in multiples of 53 Equity Shares thereafter, the company announced.

“The IPO consists of fresh issue of up to Rs 1,000 crore and an offer for sale (OFS) of up to Rs 500 crore by Promoters. The proceeds from the fresh issue will be utilised to the extent of Rs 720 crore for prepayment or scheduled re-payment of a portion of certain outstanding borrowings availed by the company and general corporate purposes,” the company said in a statement.

The company further said, “As of December 31, 2023, their product portfolio comprised 16 major brands of IMFL across whisky, brandy, rum, and vodka. ABDs brands which includes Officer’s Choice Whisky, Sterling Reserve, ICONiQ Whisky and Officer’s Choice Blue, are ‘Millionaire Brands’ or brands have sold over a million 9-liter cases in one year.”

“As of March 31, 2023, their products were retailed across 79,329 retail outlets across 30 States and Union Territories in India,” the statement further said.

ICICI Securities Limited, Nuvama Wealth Management Limited, and ITI Capital Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.