Allied Blenders and Distillers IPO subscription details on day 2

26 Jun 2024 , 12:38 PM

The IPO of Allied Blenders and Distillers, known for Officer’s Choice whiskey, opened for subscription on Tuesday. The subscription period for the IPO will close on June 27.

At the time of writing on June 26, 2024 at 12:23 pm, Allied Blenders IPO subscribed 0.88 times, according to BSE data. Qualified Institutional Buyers (QIBs) subscribed 0.02 times of their portion, while non-institutional investors subscribed 1.45 times. Retail individual investors (RIIs) subscribed 1.11, and the employee portion was oversubscribed by 3.823 times.

Allied Blenders and Distillers Ltd, known for Officer’s Choice Whisky, set a price band of ₹267 to ₹281 per equity share with a face value of ₹2.

The IPO, closing on June 27, aims to raise ₹1,500 Crore, comprising a fresh issue of ₹1,000 Crore and an offer-for-sale (OFS) of ₹500 Crore by promoters Bina Kishore Chhabria and Resham Chhabria Jeetendra Hemdev.

Allied Blenders and Distillers holds over 8% market share in the Indian-Made Foreign Liquor (IMFL) sector based on sales volumes as of Fiscal 2023.

ICICI Securities Limited, Nuvama Wealth Management Limited, and Iti Capital Ltd are the book running lead managers, while Link Intime India Private Ltd is the registrar for the IPO.