Officer's Choice maker Allied Blenders to float Rs 1,500 cr IPO on Jun 25
Allied Blenders and Distillers Ltd, the maker of Officer's Choice Whisky, is set to launch its Rs 1,500 crore initial public offering (IPO) on June 25.
The initial share-sale will conclude on June 27 and the bidding for anchor investors will open for a day on June 24, according to the red herring prospectus (RHP).
The initial share-sale comprises fresh issuance of equity shares worth Rs 1,000 crore and an Offer-for-Sale (OFS) of shares to the tune of Rs 500 crore by promoters.
As a part of the OFS, Bina Kishore Chhabria, Resham Chhabria Jeetendra Hemdev and Neesha Kishore Chhabria will sell shares.
Proceeds from the fresh issue worth Rs 720 crore will be used for the payment of debt, besides, a portion will be used for general corporate purposes.
The total debt on the company's books was around Rs 808 crore as of December 2023.
Allied Blenders and Distillers, which filed preliminary IPO papers with Sebi in January, obtained its nod in May to launch the public issue.
With a marke