Officer's Choice Allied Blenders and Distillers Pvt. The company has already filed draft papers with Sebi to raise Rs 2,000 crore through an IPO. It seems that the amount raised through the IPO will be utilized by the company for loan repayments.
Promoters share sale ..
The company said in its draft documents that it would sell Rs 1,000 crore worth of promoter shares through an offer for sale, along with a new issue of Rs 1,000 crore in the IPO. The IPO will be managed by ICICI Securities, Axis Capital, mahindra BANK' target='_blank' title='kotak mahindra-Latest Updates, Photos, Videos are a click away, CLICK NOW">kotak mahindra Capital and JM Financials. Shares worth up to Rs 500 crore will be offloaded by ABD co-chairperson Bina kishore Chhabria. Meanwhile, promoters Resham Chhabria jeetendra Hemdev and Neesha kishore Chhabria will sell shares worth Rs 250 crore each.
How much for any investor ..
This offer is being offered through the book building process. In the IPO, 50 percent shares were made available to institutional investors and 15 percent shares were made available to non-institutional bidders. The remaining 35 percent shares were allotted to retail investors in the IPO.
The company's profits are like this..
Allied Blenders and Distillers is the largest indigenous alcohol company in the country. It is third behind Diageo, Pernod's record. It has business in 25 states and union territories of the country. It has 10 major brands such as Sterling Reserve, Officer's Choice whiskey, brandy rum, vodka, as well as packaged drinking water. The company's profits for the 2021 financial year have been hit. The company, which earned a profit of Rs.12.97 crores in the year 2020, registered a profit of only Rs.2.51 crores in 2021.