Allied Blenders and Distillers IPO fully subscribed

27 Jun 2024 , 08:53 AM

Allied Blenders and Distillers’ initial public offering was completely subscribed on the second day of bidding, June 26. So far, investors have purchased 5.96 Crore equity shares, 1.52 times the offer size of 3.93 Crore shares, according to exchange subscription data.

The Officer’s Choice whisky manufacturer plans to collect ₹1,500 Crore through its public offering, which will include a fresh issuance of ₹1,000 Crore of shares and an offer-for-sale (OFS) of ₹500 Crore of shares by the proprietors.

Non-institutional investors were the first to back the issue, buying 2.98 times their allocated amount, followed by Retail Individual investors, who purchased 1.65 times their permitted quota. Qualified institutional buyers are also gradually increasing their bids, accounting for 14% of their total.

Employees who had ₹3 Crore in shares reserved in the IPO purchased 5.09 times the amount set aside for them. They will receive such shares at a discount of ₹26 per share on the final issuance price.

On June 24, Allied Blenders collected ₹499.1 Crore through their anchor book. The anchor book included investors like Societe Generale, Goldman Sachs, Troo Capital, BNP Paribas, 360 One Special Opportunities Fund, LIC Mutual Fund, and Jupiter India.

The Maharashtra-based spirits company plans to use the net fresh issue proceeds primarily to settle debts, as well as for general business objectives.

The public offering will close on June 27.

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