Mumbai-based Allied Blenders initial public offering (IPO) opened on Tuesday, June 25, and will close on Thursday, June 27.
Jun 25, 2024
By: sourabh.jain@timesinternet.in
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Allied Blenders has fixed a price band of ₹267-₹281 per share for its public issue.
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Allied Blenders is a Mumbai-based Indian-made foreign liquor company (IMFL). It sells liquor in four categories: brandy, rum, vodka, and whisky.
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Allied Blenders is looking to raise ₹1,500 crore from the current IPO. This includes a fresh issue of ₹1,000 crore and an offer for sale (OFS) component of ₹500 crore.
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Ahead of the IPO, the company has received an investment of ₹449.1 crore from institutional investors.
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Investors can bid for a minimum of 53 shares and in multiples of 53 shares thereafter.
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The company, founded in 1988 currently sells liquor in four categories. Additionally, the company also sells packaged drinking water under the Officer's Choice, Officer's Choice Blue, and Sterling Reserve brands.
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The company’s income was ₹7,116.75 crore in FY23, down from ₹7,208.17 crore in FY22. The company reported a profit of ₹1.60 crore in FY23, up from ₹1.48 crore profit reported in FY22.
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The company is restricted from advertising, which hinders brand promotion. The industry has constantly evolving regulations and any adverse changes may have a huge impact.
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The company is part of a highly competitive business and has been operating with thin margins. Any adverse event may impact its profitability.
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