Whisky Lovers Rejoice: Officer’s Choice Maker Allied Blenders and Distillers Set to Launch Rs 1,500 Crore IPO
The Indian whisky market is abuzz with excitement as Allied Blenders and Distillers Ltd, the maker of the popular Officer’s Choice Whisky, prepares to launch its initial public offering (IPO) worth Rs 1,500 crore. The IPO, which is set to open on June 25 and conclude on June 27, will comprise a fresh issuance of equity shares worth Rs 1,000 crore and an Offer-for-Sale (OFS) of shares to the tune of Rs 500 crore by promoters.
Whisky bottles lined up on a shelf
The OFS will see Bina Kishore Chhabria, Resham Chhabria Jeetendra Hemdev, and Neesha Kishore Chhabria sell shares. Proceeds from the fresh issue worth Rs 720 crore will be used to pay off debt, with a portion allocated for general corporate purposes. As of December 2023, the total debt on the company’s books stood at around Rs 808 crore.
Allied Blenders and Distillers, which filed preliminary IPO papers with Sebi in January, obtained its nod in May to launch the public issue. With a market share of over 8 per cent in the Indian-Made Foreign Liquor (IMFL) market by sales volumes in fiscal 2023, the company is engaged in the manufacturing, marketing, and sale of alcoholic beverages in India and abroad.
Whisky production process
The company’s decision to go public is seen as a significant move in the Indian whisky industry, which has been growing steadily in recent years. Allied Blenders and Distillers’ IPO is expected to attract significant investor interest, given the company’s strong market presence and growth potential.
Whisky barrels aging in a warehouse
As the Indian whisky market continues to evolve, Allied Blenders and Distillers is well-positioned to capitalize on the growing demand for premium whisky brands. With its strong brand portfolio and expanding distribution network, the company is poised to become a major player in the global whisky industry.
Officer’s Choice Whisky bottle
The IPO is a significant milestone for Allied Blenders and Distillers, and whisky enthusiasts will be watching with keen interest as the company embarks on its next phase of growth.
