Wednesday, July 3, 2024

Allied Blenders becomes a billion-dollar company on debut; shares list at 14% premium

Tuesday, July 02, 2024: Allied Blenders & Distillers Limited becomes a billion-dollar company on debut after the shares listed at 14% premium. 

The scrip listed Rs 318.10 per share on BSE, a premium of 13.20% and Rs 320 per share on NSE, a premium of 13.88%. The company's share price closed at Rs 317.85 per share on the BSE, a 13.11% premium, and at Rs 317 per share on the NSE, a 12.81% premium.

As per NSE, the total quantity traded stood at 493.62 lakh shares, on BSE the total Quantity stood at 36.95 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 1,677.44 crore. 

Alok Gupta, Managing Director, Allied Blenders & Distillers Ltd said "We are deeply grateful to our investors for their unwavering support and confidence in our vision. The listing of our shares on the exchange marks a significant milestone in our journey, and we couldn't have reached this achievement without your belief in us. This accomplishment is a testament to the hard work and dedication of our entire team and the trust our investors have placed in us. We look forward to continued growth and success together. Thank you for being an integral part of our journey."

The Market Capitalization of the Company at today’s closing price stood at Rs. 8,890.59 Crore as per BSE and Rs. 8,866.81 Crore as per NSE.

The Initial Public Offering of Allied Blenders & Distillers Limited was subscribed 23.49 times. Qualified Institutional Buyer Portion and Non-Institutional Investors Portion and was subscribed 50.37 times and 32.35 times respectively. Employee Portion was subscribed 9.64 times and Retail Portion was subscribed 4.42 times.

The Mumbai-based company is the third largest IMFL company in India, in terms of annual sales volumes between Fiscal 2014 and Fiscal 2022 and also one of the only four spirits companies in India with a Pan-India sales and distribution footprint, and is a leading exporter of IMFL, with an estimated market share of 11.8% in the Indian Whisky market for fiscal 2023. The Company started its journey in 1988 with the launch of flagship brand, Officer’s Choice Whisky which marked their entry into the mass premium whisky segment. 

From 2016 to 2019, Officer’s Choice Whisky was among the top-selling whisky brands globally in terms of annual sales volumes. Over the years, ABD has expanded and introduced products across various categories and segments. 

As of December 31, 2023, their product portfolio comprised 16 major brands of IMFL across whisky, brandy, rum, and vodka. ABDs brands which includes Officer’s Choice Whisky, Sterling Reserve, ICONiQ Whisky and Officer’s Choice Blue, are ‘Millionaire Brands’ or brands have sold over a million 9-liter cases in one year. 

ICICI Securities Limited, Nuvama Wealth Management Limited, and ITI Capital Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the offer. The equity shares are proposed to be listed on BSE and NSE.

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