Mumbai: Allied Blenders & Distillers (abd), the largest domestic liquor company, is set to file an IPO of Rs 2,000 crore later this month at a valuation of around Rs 20,000 crore or $2. 5 billion. The company has appointed ICICI Securities, Axis Capital, Kotak Mahindra Capital and JM Financial to manage the public offering.
Sources said the IPO would be a combination of fresh fund raising by the company and sale offer by some of its promoters in the ratio of 50:50. He said it would use Rs 1,000 crore part of its debt and some amount to expand its business, including launching new brands.
ABD, makers of popular brands like Official’s Choice and sterling reserve, had been planning to go public for a few years. ABD is the largest domestic liquor company in India and the third largest overall behind global players Diego And Pernod RicardAccording to merchant bankers.
A text message sent to Kishore Chhabria, president and main promoter of ABD, did not elicit any response till the time of going to the press. Once listed, ABD will be the brewery and distiller’s first listing in more than a decade. According to BSE Data, Globus Spirits was the last such company to go public in 2009.
ABD began its operations in 1988 with Officers’ Choice being the flagship brand. Currently, it is the third best-selling whiskey in the world. In 2017, ABD entered the premium segment with Sterling Reserves.
Sources said the IPO would be a combination of fresh fund raising by the company and sale offer by some of its promoters in the ratio of 50:50. He said it would use Rs 1,000 crore part of its debt and some amount to expand its business, including launching new brands.
ABD, makers of popular brands like Official’s Choice and sterling reserve, had been planning to go public for a few years. ABD is the largest domestic liquor company in India and the third largest overall behind global players Diego And Pernod RicardAccording to merchant bankers.
A text message sent to Kishore Chhabria, president and main promoter of ABD, did not elicit any response till the time of going to the press. Once listed, ABD will be the brewery and distiller’s first listing in more than a decade. According to BSE Data, Globus Spirits was the last such company to go public in 2009.
ABD began its operations in 1988 with Officers’ Choice being the flagship brand. Currently, it is the third best-selling whiskey in the world. In 2017, ABD entered the premium segment with Sterling Reserves.