Allied Blenders & Distillers closes with a 12.8% premium

3 Jul 2024 , 09:06 AM

Allied Blenders & Distillers’ stock market debut on July 2 began well, with the business closing at ₹317, a 12.8% premium over the issue price of ₹281.

Over three days, the ₹1,500-Crore public offer drew strong investor interest, with buyers bidding for 92.71 Crore equity shares versus a 3.93 Crore offer.

Non-institutional investors supported the issuance, buying 32.40 times their authorised amount. Qualified institutional purchasers bid 50.37 times their reserved amount, while retail investors subscribed for 4.51 times their allotted shares.

The Officer’s Choice whisky company collected ₹499.1 Crore from its 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.

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