/https://tf-cmsv2-smithsonianmag-media.s3.amazonaws.com/filer/b6/30/b630b48b-7344-4661-9264-186b70531bdc/istock-478831658.jpg)
:max_bytes(150000):strip_icc()/GettyImages-80487462-59833fb6d088c000112fcc2c.jpg)
)
Allied Blender's IPO subscribed 23.5 times
Allied Blenders & Distillers held around 11.8 per cent of the market share in sales volume in the Indian whisky market for FY23.
Allied Blenders & Distillers' IPO was oversubscribed by 23.5 times on Thursday, its last day of offering.
The portion allocated for institutional investors was oversubscribed by 50times , the portion for wealthy investors or high-net-worth individuals (HNIs) by 32.40 times, the retail investor portion by 4.5times and the portion reserved for company employees by 9.9 times.
The company had priced its IPO between Rs 267 to Rs 281 per share.
The IPO worth ₹1,500 crore consisted of a new issuance of ₹1,000 crore and a ₹ 500 crore offer for sale (OFS).
The company had allotted shares worth ₹ 449 crore ahead of the IPO.
The company intends to use the net proceeds from the new offering to pay off debts.
The business is an Indian-owned and Indian-manufactured foreign liquor (IMFL) company. In FY23, Allied Blenders & Distillers held approximately 11.8 per cent of the sales volume market share in the Indian whisky market.
By December 31, 2023, the company had a product lineup that included 16 leading brands of Indian-made foreign liquor in categories such as whisky, brandy, rum, and vodka.
What's Your Reaction?
)
