look news india
Mumbai/New Delhi, June 26 (HS). Allied Blenders and Distillers Limited (ABD)'s initial public offering (IPO) received 1.51 times subscription on the second day on Wednesday. The company's IPO will close on June 27. After this, ABD's shares are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
According to the latest data from NSE, bids were received for 5,96,04,754 shares against 3,93,71,669 shares in the initial share sale of Rs 1,500 crore. According to the company, the category of non-institutional investors got 2.98 times subscription, while the retail individual investor (RII) segment got 1.65 times subscription. The portion of qualified institutional buyers (QIB) got 14 percent subscription.
The IPO of ABD, the maker of Officer's Choice whiskey, includes new shares worth Rs 1,000 crore and an offer for sale (OFS) of Rs 500 crore. The company has fixed the price range for this at Rs 267-281 per share. It is worth noting that the company has raised Rs 449 crore from anchor investors before the public issue.
It is worth mentioning that Allied Blenders and Distillers Limited is known as ABD. It is an Indian made foreign liquor company, headquartered in Mumbai. The company's portfolio includes 16 brands of whiskey, brandy, rum and vodka. These include other major brands including Officer's Choice Whiskey, Sterling Reserve and Officer's Choice Blue, which are exported to 22 countries around the world.
