Advertisment

Allied Blenders and Distillers get Sebi nod for Rs 1500 crore IPO

The shares are offered at a face value of Rs 2 and is a mix of fresh issue of up to Rs 1000 crore and an offer for sale of up to Rs 500 crore by Promoters and Promoter Group

author-image
BestMediaInfo Bureau
New Update
distillers and allied

Allied Blenders and Distillers get Sebi nod for Rs 1500 crore IPO

Listen to this article
0.75x 1x 1.5x
00:00 / 00:00

Delhi: Allied Blenders and Distillers have received final observation from the capital markets regulator, Securities and Exchange Board of India (SEBI), to raise Rs 1500 crore through an initial public offering (IPO).

The Company had refiled its IPO papers with Sebi on January 15, 2024.

The shares are offered at a face value of Rs 2 and is a mix of fresh issue of up to Rs 1000 crore and an offer for sale of up to Rs 500 crore by Promoters and Promoter Group. 

The offer for sale comprises up to Rs 250 crore by Bina Kishore Chhabria, Rs 125 crore by Resham Chhabria Jeetendra Hemdev and Rs 125 crore by Neesha Kishore Chhabria. The offer also includes a reservation for subscription by eligible employees.

The proceeds from its fresh issuance to the extent of Rs 720 crore will be utilised for prepayment or scheduled re-payment of a portion of certain outstanding borrowings availed by the company and for general corporate purposes. 

The company, in consultation with the book-running lead managers, may be through a preferential issue or any other method for a consideration aggregating up to Rs 200 crore as “Pre-IPO placement.” If such placement is completed, the fresh issue size will be reduced.

 

Allied Blenders & Distillers
Advertisment