Allied Blenders & Distillers raises ₹449.1 crore from anchor investors ahead of public issue

Allied Blenders & Distillers' IPO will open for subscription on Tuesday, June 25, and close on Thursday, June, 27.

Allied Blenders & Distillers Limited on Monday said the company has raised nearly ₹449.1 crore from anchor investors ahead of its initial public offering (IPO) on Tuesday, June 25.

According to an exchange filing, the liquor manufacturing company allocated 1,59,82,206 shares to anchor investors at ₹281 per share.

Nippon Life Mutual Fund, JM Financial Mutual Fund, LIC Mutual Fund, Jupiter India Fund, The Jupiter Global Fund Mutual Fund, Troo Capital Fund, BNP Paribas Financial Market, 360 One Special Opportunities Fund, and Goldman Sachs (Singapore) Pte-ODI were among the many funds that participated in the anchor round.

Out of the 1,59,82,206 equity shares allocated to the anchor investors, 53,38,109 equity shares or 33.40 per cent, were allotted to three domestic mutual funds that had applied through four schemes.

Nippon Life India and Authum Investment and Infrastructure got the most equity share allocation at 31.17 per cent and 11.09 per cent, respectively.

ICICI Securities Limited, Nuvama Wealth Management Limited, and ITI Capital Limited are the book-running lead managers.

Allied Blenders & Distillers IPO details:

The liquor manufacturing company's IPO will open for subscription on Tuesday, June 25, and close on Thursday, June 27. The price band for the IPO has been set at ₹267 to ₹281 per equity share, with a face value of ₹2 per share.

The Allied Blenders & Distillers IPO is valued at ₹1,500 crore, which includes a fresh issue of ₹1,000 crore, and an offer for sale (OFS) of ₹500 crore by the promoters.

Up to 50 per cent of the offer has been reserved for qualified institutional buyers (QIB), at least 15 per cent for non-institutional investors (NII), and at least 35 per cent for retail investors.

Allied Blenders & Distillers Limited is a Mumbai-based Indian-made foreign liquor (IMFL) company focusing on spirits categories like whisky, brandy, rum, vodka, and gin. The products manufactured are sold in more than 20 countries with their primary market being Africa and the Middle Eastern countries, according to the company website.