Allied Blenders and Distillers Sets IPO Price Range at ₹267-281 per Share
About Allied Blenders and Distillers
Allied Blenders and Distillers, headquartered in Mumbai, is India’s largest independent spirits company. Renowned for its flagship brand, Officer’s Choice Whisky, it’s the third-largest-selling whisky globally. With a robust pan-India network, ABD also exports to 22 countries, marking a significant presence in the IMFL sector.
IPO News: Allied Blenders and Distillers Limited has revealed its Initial Public Offering (IPO) with a price range of ₹267 to ₹281 per share, each having a nominal value of ₹2. The subscription window for Allied Blenders and Distillers IPO opens on June 25 and concludes on June 27, with anchor investor allocation set for June 24.
The Allied Blenders and Distillers IPO price is set at 133.50 to 140.50 times the share’s face value. Investors can place bids starting at a minimum of 53 shares.
As advertised in the Financial Express, the company’s price-to-earnings (P/E) ratio at the top end of the price band is 4014.29 times, based on the diluted earnings per share (EPS) for 2023. This is substantially more than the industry average P/E ratio of 62.10 times.
The Allied Blenders and Distillers IPO allocation includes up to 50% for Qualified Institutional Buyers (QIBs), at least 15% for Non-Institutional Investors (NIIs), and a minimum of 35% for retail investors. Additionally, there’s a ₹26 discount per share for eligible employees participating in the employee reservation segment.
The allotment of shares is expected to be finalized on June 28, with refunds commencing on July 1. The shares are slated to be credited to allottees’ demat accounts on the same day as the refunds. The anticipated listing date for Allied Blenders and Distillers’ shares on the BSE and NSE is July 2.
The red herring prospectus (RHP) identifies Allied Blenders and Distillers as the largest domestically-owned producer of Indian-made foreign liquor (IMFL) and the third-largest in India by annual sales volume from Fiscal 2014 to Fiscal 2022, according to the Technopak Report.
The company boasts a comprehensive nationwide sales and distribution network, making it one of the four major spirits companies in India. It is also a key exporter of IMFL, projected to hold an 11.8% market share in the Indian whiskey market in Fiscal 2023.
