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Officer's Choice Whisky maker Allied Blenders' shares jump over 13% in debut trade

The stock opened the trade at Rs 318.10, up 13.20% from the issue price on the BSE.
Last Updated : 02 July 2024, 11:59 IST

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New Delhi: Shares of Allied Blenders and Distillers Ltd, the maker of Officer's Choice Whisky, ended with a premium of over 13 per cent against the issue price of Rs 281 on Tuesday.

The stock opened the trade at Rs 318.10, up 13.20 per cent from the issue price on the BSE. It later jumped 15.44 per cent to Rs 324.40. Shares of the company ended at Rs 317.85 apiece, rallying 13.11 per cent.

On the NSE, shares of the company listed at Rs 320, registering a jump of 13.87 per cent. It ended at Rs 317 per piece, up 12.81 per cent.

The company's market valuation stood at Rs 8,890.59 crore.

In volume terms, 36.95 lakh shares of the company were traded on the BSE and 493.59 lakh shares exchanged hands on the NSE during the day.

The initial public offer of Allied Blenders and Distillers garnered 23.49 times subscription on the final day of bidding on Thursday.

The Rs 1,500-crore initial share sale had a fresh issue of up to Rs 1,000 crore and an offer for sale of up to Rs 500 crore.

The initial share sale had a price range of Rs 267-281 a share.

Proceeds from the fresh issue worth Rs 720 crore will be used for the payment of debt, and a portion will be used for general corporate purposes.

With a market share of over 8 per cent in the Indian-Made Foreign Liquor (IMFL) market by sales volume in fiscal 2023, Allied Blenders and Distillers is engaged in the manufacturing, marketing and sale of alcoholic beverages in India and abroad.

The product portfolio of the firm comprises several brands of IMFL in whisky, brandy, rum and vodka.

Some of the major brands of the company include Officer's Choice Whisky, Sterling Reserve Whisky, Jolly Roger Rum, and Class 21 Vodka.

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Published 02 July 2024, 11:59 IST

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