Aspri Spirits Plans IPO to Strengthen Financial Footing

Aspri Spirits, a major player in the alco-beverage distribution industry, has filed with SEBI for an IPO aimed at raising Rs 140 crore. The IPO includes a fresh issue and an offer for sale. Proceeds will address debt and corporate purposes, potentially adjusted by a pre-IPO placement.

Aspri Spirits, a prominent name in the alco-beverage distribution sector, has submitted preliminary documents to the markets regulator, SEBI, to initiate an Initial Public Offering (IPO) that is set to generate Rs 140 crore through newly issued shares.

The IPO will also feature an Offer for Sale (OFS) of 50 lakh shares by its promoters and other stakeholders, including entities such as Emerald Electronics and Whiteline Impex, as detailed in the recently filed draft red herring prospectus.

The capital raised from the fresh issue will be allocated toward settling debts for Aspri Spirits and its subsidiaries, alongside fulfilling general corporate needs. The possibility of a pre-IPO placement of Rs 28 crore could potentially modify the IPO size.

(With inputs from agencies.)