Allied Blenders IPO: Allied Blenders and Distillers’ IPO witnessed robust interest from retail and non-institutional investors on its first day of bidding, June 25. Data from exchanges revealed bids for 72.3 lakh equity shares, amounting to 0.2 times the total offer size of 3.9 crore shares.
Retail investors subscribed to nearly 26% of their allotted quota, while non-institutional investors subscribed to 23% of their portion. Qualified institutional buyers (QIBs) bid for over 4,300 shares against the 1.1 crore shares allocated to them.
The IPO includes a fresh issue of shares worth Rs 1,000 crore and an offer-for-sale of Rs 500 crore by promoters. Bidding concludes on June 27.
Proceeds from the fresh issue will be used to repay debt and for general corporate purposes.
ICICI Securities, Nuvama Wealth Management, and ITI Capital are the book-running lead managers. The company’s shares are set to list on the BSE and NSE.
Allied Blenders raised Rs 449.1 crore from institutional investors via an anchor book on June 24, with leading investors including Nippon Life India, JM Financial Mutual Fund, and LIC Mutual Fund.
Half of the IPO is reserved for QIBs, 35% for retail investors, and 15% for non-institutional investors. Employees have been allocated shares at a discount of Rs 26 per share to the final IPO price.
The IPO’s price band is set at Rs 267-281 per share, with bidding allowed for 53 shares per lot and multiples thereof.
Allied Blenders manufactures and sells whiskey, brandy, rum, and vodka, and also markets packaged drinking water under brands like Sterling Reserve, Officer’s Choice, and Officer’s Choice Blue.
