Officer’s Choice Whiskey Allied Blenders & Distillers Ltd, a maker of liquefied petroleum products, on Monday said it has raised Rs 449 crore from anchor investors ahead of its public issue. According to a circular released on the BSE website, Nippon India Mutual Fund (MF), LIC MF, JM Financial MF, Jupiter India Fund, Societe Generale, Goldman Sachs (Singapore) Pte, Wipro Commercial (India) Ltd and True Capital are among the anchor investors who invested.
The IPO will open on 25th and close on 27th
The company has allotted 1.6 crore equity shares to 17 investors at a price of Rs 281 per share. The company has fixed a range of Rs 267-281 per share for bidding of the shares under its initial public offering. Allied Blenders’ Rs 1,500 crore issue will open on June 25 and close on June 27.
The money received from IPO will be used here
Brokerage firms have pegged the company’s market capitalisation at Rs 7,860 crore after the issue. The initial share sale involves the issue of new equity shares worth Rs 1,000 crore. Apart from this, there is also an offer for sale (OFS) of shares worth Rs 500 crore by the promoters. Under the OFS, Bina Kishor Chhabria, Resham Chhabria, Jitendra Hemdev and Neesha Kishor Chhabria will sell shares. The amount of Rs 720 crore raised from the new issue will be used to repay the debt. Apart from this, a part will be used for general corporate purposes. The total debt on the company’s accounts as of December 2023 was around Rs 808 crore.
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