Allied Blenders and Distillers lists at Rs 320, on the National Stock Exchange, a premium of 14.8% to the issue price. The company raised a total of Rs 1,500 crore by offering investors 53.4 million shares.
GMP
The maker of Officer’s Choice whisky’s shares were attracting a premium of 21% in the grey market. The grey market is an unofficial place where shares are traded illegally ahead of listing.
Segments of IPO
Allied Blenders IPO had a combination of a fresh issue and an offer for sale. In it, the company sold 35.6 million fresh shares for a sum of Rs 1,000 and the remaining 17.8 million shares through an offer for sale for a value of Rs 500 crores.
IPO Date
The company opened the issue on June 25 and closed it for bidding on June 27. The allotment was finalised on June 28.
Price Band
The company kept the price band in a range of Rs 267 to Rs 281 per equity share. A retail buyer needs to buy at least one lot containing 53 shares, which aggregates to Rs 14,893. While there are different lot sizes for NIIs and QIBs.
Employee Reservation
The issue included a reservation of not more than 117,647 shares for the employees, which were offered to them at a discount of Rs 26 to the issue price.
About Allied Blenders & Distillers
The company is recognized as the largest Indian-owned Indian-made foreign liquor (“IMFL”) company and ranks third in India in terms of annual sales volumes from Fiscal 2014 to Fiscal 2022, said Master Capital Services citing Technopak Report. It is one of only four spirits companies in India with a nationwide sales and distribution network and is a leading exporter of IMFL. As of Fiscal 2023, the company held an estimated 11.8% market share in the Indian whisky market by sales volume.
BRLMs and Registrar
ICICI Securities, Nuvama Wealth Management, and ITI Capital were the book-running lead managers, while Link Intime India worked as the registrar for the issue.
