Broking firms have pegged the company's
The initial share-sale comprises fresh issuance of equity shares worth Rs 1,000 crore and an Offer-for-Sale (OFS) of shares to the tune of Rs 500 crore by promoters.
As a part of the OFS, Bina Kishore Chhabria, Resham Chhabria Jeetendra Hemdev and Neesha Kishore Chhabria will sell shares.
Proceeds from the fresh issue worth Rs 720 crore will be used for the payment of debt. Besides, a portion will be used for general corporate purposes.
The total debt on the the company's books was around Rs 808 crore as of December 2023.
Half of the issue size has been reserved for qualified institutional investors, 35 per cent for retail investors and the remaining 10 per cent for non-institutional investors. Further, investors can bid for 53 shares and in multiples thereof.
With a market share of over 8 per cent in
Some of the major brands of the company include Officer's Choice whisky, Sterling Reserve whisky, Jolly Roger rum and Class 21 vodka.
ICICI Securities Ltd, Nuvama Wealth Management Ltd, and ITI Capital Ltd are the book running lead managers to the issue. The equity shares of the company are proposed to be listed on the BSE and NSE.
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