Allied Blenders & Distillers, the manufacturer of Officer’s Choice whisky, made a successful stock market debut on July 2. The company’s shares started at Rs 320, a 13.87% premium to the issue price of Rs 281. Although this launch fell short of grey market expectations, with shares expected to trade at a 20% premium, Allied Blenders had a strong start.
The Rs 1,500 crore public offering drew strong investor interest, with subscriptions increasing 23.55 times. Non-institutional investors were particularly enthusiastic, oversubscribing 32.40 times, while qualified institutional purchasers bid 50.37 times. Retail investors subscribed 4.51 times their allotted shares.
Prior to listing, Allied Blenders collected Rs 499.1 crore through its anchor book, with investments from famous institutions such as Societe Generale, Goldman Sachs, and the LIC Mutual Fund, among others. These monies will be used mostly to pay off debts and for general company reasons.
Based in Maharashtra, Allied Blenders & Distillers is a major participant in India’s spirits business, best known for its flagship brand Officer’s Choice. Its successful listing displays investor confidence and demonstrates the company’s prudent financial planning in a competitive market environment.
