Allied Blenders & Distillers IPO Garners Huge Interest, Subscribed 23.49 Times

Allied Blenders and Distillers' IPO saw massive demand, being subscribed 23.49 times on its final day. The Rs 1,500-crore offer received overwhelming interest with QIBs subscribing 50.37 times. The sale will help pay off debt and fund corporate operations.

Allied Blenders and Distillers' initial public offering witnessed unprecedented demand, with subscriptions soaring to 23.49 times on the final day of bidding. The Rs 1,500-crore IPO, which includes a fresh issue of up to Rs 1,000 crore and an offer for sale of up to Rs 500 crore, generated bids for an astounding 92,49,01,092 shares against the 3,93,71,669 shares on offer, as per NSE data.

The segment for Qualified Institutional Buyers (QIBs) demonstrated robust interest, subscribing 50.37 times, while non-institutional investors subscribed 32.35 times. Retail Individual Investors (RIIs) also showed strong participation with a 4.42 times subscription rate.

Allied Blenders and Distillers, renowned for its flagship Officer's Choice Whisky, raised Rs 449 crore from anchor investors earlier. The company plans to use Rs 720 crore from the fresh issue to repay debt and for general corporate purposes. The firm, with a significant 8% market share in the Indian-Made Foreign Liquor (IMFL) market, also boasts brands like Sterling Reserve Whisky, Jolly Roger Rum, and Class 21 Vodka. The shares are set to be listed on the BSE and NSE, with ICICI Securities, Nuvama Wealth Management Ltd, and ITI Capital as the key managers of the offer.

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