Allied Blenders and Distillers (ABD), one of the largest Indian-owned, Indian-made foreign liquor (IMFL) companies, has fixed the price band of ₹267-281 per share of face value of ₹2 each for its initial public offering. The IPO will open on June 25 and close on June 27. Investors can bid for a minimum of 53 equity shares and in multiples of 53 equity shares thereafter.

The IPO consists of a fresh issue of up to ₹1,000 crore and an offer for sale (OFS) of up to ₹500 crore by promoters. The equity shares are proposed to be listed on BSE and NSE.

The proceeds from the fresh issue will be utilised to the extent of ₹720 crore for prepayment or scheduled repayment of a portion of certain outstanding borrowings availed by the company and general corporate purposes.

The Mumbai-based company claims to be the third largest IMFL company in India in terms of annual sales volumes between Fiscal 2014 and Fiscal 2022. It is also one of the only four spirit companies in India with a pan-India sales and distribution footprint, and is a leading exporter of IMFL, with an estimated market share of 11.8 percent in the Indian whisky market for fiscal 2023.

The company started its journey in 1988 with the launch of its flagship brand, Officer’s Choice Whisky, which marked its entry into the mass premium whisky segment.

ABD’s product range includes five main categories, i.e., whisky, brandy, rum, vodka, and gin. As of December 2023, their product portfolio comprised 16 major brands of IMFL across whisky, brandy, rum, and vodka. ABD’s brands including Officer’s Choice Whisky, Sterling Reserve, ICONiQ Whisky and Officer’s Choice Blue have all sold over a million 9-litre cases in one year.

As of March 31, 2023, their products were retailed across 79,329 retail outlets across 30 States and Union Territories in India.

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