Allied Blenders and Distillers IPO: Price band fixed at ₹267-281 apiece; check issue details, key dates, more
- Allied Blenders and Distillers IPO price band set between ₹267 to ₹281 per share. Subscription starts on June 25 and closes on June 27. Anchor investor allocation on June 24.
Allied Blenders and Distillers IPO price band: The Allied Blenders and Distillers Limited IPO price band has been set in the range of ₹267 to ₹281 per equity share of the face value of ₹2. The Allied Blenders and Distillers IPO date of subscription is scheduled for Tuesday, June 25, and will close on Thursday, June 27. The allocation to anchor investors for the Allied Blenders and Distillers IPO is scheduled to take place on Monday, June 24.
The floor price is 133.50 times the face value of the equity shares and the cap price is 140.50 times the face value of the equity shares. Bids can be made for a minimum of 53 equity shares with a face value of ₹2 each.
The company in advertisement on the Financial Express stated that the price/earnings ratio based on diluted EPS for 2023 for the issue at the upper end of the price band is as high as 4014.29 times as compared to the average industry peer group PE ratio of 62.10 times.
Allied Blenders and Distillers IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. A discount of ₹26 per equity share is being offered to eligible employees bidding in the employee reservation portion.
Tentatively, Allied Blenders and Distillers IPO basis of allotment of shares will be finalised on Friday, June 28, and the company will initiate refunds on Monday, July 1, while the shares will be credited to the demat account of allottees on the same day following refund. Allied Blenders and Distillers share price is likely to be listed on BSE and NSE on Tuesday, July 2.
According to the red herring prospectus (RHP), the largest Indian-owned Indian-made foreign liquor (IMFL) firm and the third largest IMFL company in India in terms of yearly sales volumes from Fiscal 2014 to Fiscal 2022, as noted in the Technopak Report. The firm is one of only four spirits companies in India with a pan-India sales and distribution network, as well as a prominent exporter of IMFL, with an expected market share (in terms of sales volume) of 11.8% in the Indian whiskey market in Fiscal 2023.
The company's listed peers are United Spirits Ltd (with a P/E of 73.16 times), Radico Khaitan Ltd (with a P/E of 95.87 times), and Globus Spirits Ltd (with a P/E of 17.26 times).
Between the fiscal years ending March 31, 2023 and March 31, 2022, Allied Blenders and Distillers Limited's revenue declined by 1.27% while profit after tax (PAT) increased by 8.47%.
Allied Blenders and Distillers IPO details
Allied Blenders and Distillers IPO, which is worth ₹1,500 crore, comprises a fresh issue of ₹1,000 crore, and an offer-for-sale (OFS) of ₹500 crore worth equity shares by the promoters and other investors.
In the OFS, promoters Bina Kishore Chhabria, and Resham Chhabria Jeetendra Hemdev will off load the shares.
ICICI Securities Limited, Nuvama Wealth Management Limited, and Iti Capital Ltd are the book running lead managers for the Allied Blenders IPO, with Link Intime India Private Ltd serving as the registrar.
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