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Initial public offering of up to [] equity shares of face value of Rs. 2 each (Equity Shares) of the company for cash at a price of Rs. [] per equity share (including a share premium of Rs. [] per equity share) (Offer Price) aggregating up to Rs. 1500.00 crores (Offer). The offer comprises a fresh issue of up to [] equity shares by the company aggregating up to Rs. 1000.00 crores (Fresh Issue) and an offer for sale of up to [] equity shares (Offered Shares) aggregating up to Rs. 500.00 crores comprising of [] equity shares by Bina Kishore Chhabria aggregating up to Rs. 250.00 crores, [] equity shares by Resham Chhabria Jeetendra Hemdev aggregating up to Rs. 125.00 crores and [] equity shares by Neesha Kishore Chhabria aggregating up to Rs. 125.00 crores (the Selling Shareholders and such offer for sale of equity shares by the selling shareholders, the Offer for Sale). The offer includes a reservation of up to [] equity shares aggregating up to Rs. [] crores (constituting up to []% of the post-offer paid-up equity share capital), for subscription by eligible employee(s) (the Employee Reservation Portion). The company, in consultation with the book running lead managers (brlms), may offer a discount of up to Rs. [] to the offer price to eligible employee(s) bidding in the employee reservation portion (Employee Discount), subject to necessary approvals, as may be required. The offer less the employee reservation portion is hereinafter referred to as Net Offer. The offer and net offer shall constitute []% and []%, respectively, of the post-offer paid-up equity share capital of the company. The offer price is [] times the face value of the equity shares. The company, in consultation with the brlms and the selling shareholders, may consider undertaking a further issue of equity shares or any other securities of the company, as may be permissible through a preferential issue or any other method as may be permitted in accordance with applicable law to any person(s), for a cash consideration aggregating up to Rs. 200.00 crores, between the date of this draft red herring prospectus till the filing with the roc (pre-ipo placement), subject to appropriate approvals. The pre-ipo placement, if undertaken, will be at a price to be decided by the company in consultation with the brlms, and the pre-ipo placement will be completed prior to filing of the red herring prospectus with the roc. If the pre-ipo placement is undertaken, the amount raised from the pre-ipo placement will be reduced from the fresh issue, subject to compliance with rule 19(2)(b) of the scrr. The offer price is [] times the face value of the equity shares. The price band and the minimum bid lot will be decided by the company.

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Allied Blenders and Distillers is the largest Indian-owned and Indian-made foreign liquor (IMFL) company and the third largest IMFL company in India, in terms of annual sales volumes between Fiscal 2014 and 2022 (Source: Technopak Report).

The company is essentially one of the only four spirits companies in India with a pan-India sales and distribution footprint and has an estimated market share (in terms of sales volume) of 11.8% in the Indian whisky market for Fiscal 2023.

With that, let's take a look at the competitive strength and risk factors for Allied Blenders and Distillers Limited:

Among the largest IMFL companies in India with a diversified and contemporary product portfolio.

While being the largest Indian-owned IMFL company and the third-largest IMFL company in India in terms of annual sales volumes between Fiscal 2014 and Fiscal 2022 (Source: Technopak Report), four of the company’s brands are ‘Millionaire Brands’ (Source: Technopak Report).

Strong brand recognition

Over the years, the company has developed a well-recognised product portfolio and transformed from a single-brand company to a multi-product and multi-brand company with a presence across various categories and segments of the IMFL industry in India. The company also entered the premium and semi-premium whisky segments with the launch of Sterling Reserve Blend 10 and Sterling Reserve Blend 7 in Fiscal 2018 and these brands have been recognised as Brand Champion (Indian Whisky) for four years in a row between 2019 and 2022 by The Spirits Business, London.

Access to an extensive pan-India distribution network with the ability to scale

Having a pan-India multi-channel distribution network and being one of only four spirits companies in India with a pan-India sales and distribution footprint serves as an advantage to the company (Source: Technopak Report). Further, The Indian alco-beverage industry has high barriers to entry, due to it being highly regulated with State-specific policies. This is advantageous for the company to keep new competition at bay.
  • Any reduction in the sales of whisky products could adversely affect the business.
  • An inability to maintain or enhance the popularity of the brands could adversely affect the business.
  • The company’s sales are dependent on a few States in particular, and any reduction in sales in such key States could adversely affect the business.
  • Increase market share of Officer’s Choice Whisky across regions.
  • Introduce new products within the premium, semi-premium and deluxe segments to strengthen presence in other categories.
  • Continue to focus on improving operating efficiencies.

Here are the key financials for Allied Blenders and Distillers Limited:

Particulars (in Rs. million)

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Kotak Securities

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Opening of account will not guarantee allotment of shares in IPO. Investors are requested to do their own due diligence before investing in any IPO.

Here are the steps to apply for Allied Blenders & Distillers Ltd IPO:

Step 1: Log in to your Kotak Securities Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.

Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.

Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.

Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.

Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.

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