
Allied Blenders And Distillers Limited (ABDL) ranks as the third-largest spirits company in India. It stands out as the sole spirits company in the country to have launched two millionaire brands within the last five years (2018-2022), namely Sterling Reserve Whisky and ICONiQ White Whisky, bringing its total millionaire brands to four. The company is led by Mr. Kishore Chhabria, a prominent figure in the Indian alcohol and beverage sector.
ABDL operates across various brands, covering a broad spectrum within the spirits market. Its premier brand, Officer's Choice, stands as one of the top-selling whisky brands globally and is among the leading spirits brands for export from India, with sales in 14 countries worldwide. Sterling Reserve, our high-end product, is consistently achieving new milestones with its superior blend, while OC Blue is a popular choice in the luxury whisky segment.
Allied Blenders and Distillers Limited has launched its IPO, marking its debut in the Indian stock market. The IPO opened for subscription today and will accept bids until the 27th of June, 2024, which falls on a Thursday. The price range for the IPO is set at ₹267 to ₹281 per share, with the company looking to garner ₹1500 crore through the issuance. This public offering includes both fresh shares and an offer for sale (OFS). Market analysts note that the company's shares are trading at a ₹76 premium in the grey market as of today.
BP Equities recommends subscribing, noting the issue's high valuation on a price-to-earnings basis compared to peers but acknowledging the company's robust position in the IMFL sector and the overall alcohol industry dynamics, suggesting it for high-risk investors seeking listing gains.
Sushil Finance, Marwadi Shares and Finance, and SBICAP Securities have given a 'buy' rating, while Swastika Investment advises primary market investors to steer clear.