Allied Blenders & Distillers Limited’s Initial Public Offering to open on Tuesday, June 25, 2024, price band set at ₹267/- to ₹281/- per Equity Share
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by Priya Jadhav Mumbai, June 20, 2024: Allied Blenders and Distillers is the largest Indian-owned Indian-made foreign liquor (“IMFL”) company with a product range which includes five main categories, i.e., whisky, brandy, rum, vodka and gin, has fixed the price band of ₹267/- to ₹281/- per Equity Share of face value ₹2/- each for its maiden initial public offer. The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Tuesday, June 25, 2024, for subscription and close on Thursday, June 27, 2024. Investors can bid for a minimum of 53 Equity Shares and in multiples of 53 Equity Shares thereafter. The IPO consists of fresh issue of up to Rs 1,000 crore and an offer for sale (OFS) of up to Rs 500 crore by Promoters. The proceeds from the fresh issue will be utilised to the extent of Rs 720 crore for prepayment or scheduled re-payment of a portion of certain outstanding borrowings availed by the company and general corporate purposes. The Mumbai-based company is the third