Allied Blenders & Distillers IPO
Allied Blenders & Distillers IPO — date, price band, lot size & details 2024
Allied Blenders & Distillers listed on 2 Jul 2024 at ₹320, 13.9% above the ₹281 issue price.
Allied Blenders & Distillers is an Indian-owned IMFL company selling whisky, brandy, rum, vodka and gin, led by its Officer's Choice whisky brand. Its total income was Rs 7,116.75 crore in FY2023.
Stock price
Allied Blenders & Distillers is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 25 Jun 2024
- Close 27 Jun 2024
- Allotment 28 Jun 2024
- Refund/credit 01 Jul 2024
- Listing 02 Jul 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 25 to 27 Jun, 2024 |
|---|---|
| Price Band | ₹267 – ₹281 |
| Face Value | ₹2 |
| Lot Size | 53 Shares |
| Issue Size | ₹1500 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 26.00 per share |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,893 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 53 shares at the ₹281 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 53 | ₹14,893 |
| Retail (max) | 13 | 689 | ₹1,93,609 |
| S-HNI (min) | 14 | 742 | ₹2,08,502 |
| S-HNI (max) | 67 | 3,551 | ₹9,97,831 |
| B-HNI (min) | 68 | 3,604 | ₹10,12,724 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income was Rs 7,116.75 crore in FY2023, making it a large IMFL player.
- 02Rs 720.00 crore of the fresh issue was planned for repaying debt.
- 03Its Officer's Choice brand gives it scale in the mass premium whisky market, with 5 IMFL categories in all.
- 04Total borrowing fell from Rs 954.74 crore on 31 March 2021 to Rs 798.11 crore on 31 December 2023.
- 05The source puts return on capital employed at 24.35%.
Risks · 5
- 01Profit is extremely thin, at Rs 1.60 crore in FY2023, and the source puts the PAT margin at 0.17%.
- 02The pre-issue P/E was 4284.57 at the upper band of Rs 281, based on EPS of Rs 0.07.
- 03Alcohol is heavily taxed and regulated state by state, and prices are often controlled. Income fell from Rs 7,208.17 crore in FY2022.
- 04It depends heavily on whisky, and the source puts debt to equity at 1.88.
- 05Promoters and the promoter group held 100% before the issue and 80.91% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Allied Blenders & Distillers offer document.
| Metric | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 2,741.39 | 2,487.70 | 2,248.35 | 2,298.57 |
| Total Income | 5,914.98 | 7,116.75 | 7,208.17 | 6,397.81 |
| Profit After Tax | 4.23 | 1.60 | 1.48 | 2.51 |
| NET Worth | 409.26 | 406.10 | 404.10 | 381.78 |
| Reserves and Surplus | 360.43 | 357.28 | 356.99 | 327.85 |
| Total Borrowing | 798.11 | 780.82 | 846.91 | 954.74 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Allied Blenders & Distillers RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Allied Blenders & Distillers IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹0.07 | ₹0.20 |
| P/E Ratio (x) | 4,284.57 | 1,393.87 |
| Market Cap at Offer Price (₹ Cr) | ₹16,980.43 | ₹5,943.15 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹281 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹941.47 Cr of the issue is earmarked to named objects.
About the company
Its range includes five IMFL categories: whisky, brandy, rum, vodka and gin. It earns almost all of its revenue from sale of IMFL, mainly whisky, under brands such as Officer's Choice and Sterling Reserve.
Its promoters include Kishore Rajaram Chhabria, Bina Kishore Chhabria and Resham Chhabria Jeetendra Hemdev.
The IPO was Rs 1,500 crore, with Rs 1,000.09 crore of fresh issue and Rs 499.91 crore of offer for sale by Bina Kishore Chhabria and Resham Chhabria Jeetendra Hemdev. Rs 720.00 crore was planned for repaying borrowings.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Nuvama Wealth Management Ltd.
42 issues handledBest listing: Gandhar Oil Refinery (India) (+76.3%). Weakest: ACME Solar Holdings (-13.1%).
ICICI Securities
126 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
ITI Capital Ltd
4 issues handledBest listing: Waaree Energies (+66.3%). Weakest: Suraj Estate Developers (-5.6%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Allied Blenders & Distillers?
The current Grey Market Premium is ₹45, or 16% over the issue price.
What is the Allied Blenders & Distillers IPO price band?
₹267 to ₹281, on a face value of ₹2.
When is the allotment?
The basis of allotment is 28 June 2024, with listing on 2 July 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
