Allied Blenders and Distillers Ltd, the maker of Officer’s Choice Whisky, saw its shares listed with a premium of nearly 14 percent against the issue price of Rs 281 on Tuesday. The stock opened at Rs 318.10 on the BSE, a 13.20 percent increase from the issue price, and later rose to Rs 322.40, a 14.73 percent jump. On the NSE, the company’s shares listed at Rs 320, marking a 13.87 percent increase. The company’s market valuation stood at Rs 8,869.61 crore.
The initial public offer of Allied Blenders and Distillers garnered 23.49 times subscription on the final day of bidding on Thursday. The Rs 1,500-crore initial share sale included a fresh issue of up to Rs 1,000 crore and an offer for sale of up to Rs 500 crore, with a price range of Rs 267-281 a share. Proceeds from the fresh issue worth Rs 720 crore will be used for debt payment, and a portion will be utilized for general corporate purposes.
Allied Blenders and Distillers holds over 8 percent market share in the Indian-Made Foreign Liquor (IMFL) market by sales volume in fiscal 2023. The company is engaged in the manufacturing, marketing, and sale of alcoholic beverages in India and abroad, with a product portfolio comprising various brands of IMFL in whisky, brandy, rum, and vodka. Some of its major brands include Officer’s Choice Whisky, Sterling Reserve Whisky, Jolly Roger Rum, and Class 21 Vodka.