<p>New Delhi: Allied Blenders and Distillers Ltd, the maker of Officer's Choice Whisky, has received Sebi's go-ahead to raise Rs 1,500 crore through an Initial Public Offering (IPO), an update with the markets regulator showed on Tuesday.</p>.<p>The initial share sale comprises fresh issuance of equity shares worth Rs 1,000 crore and an Offer-for-Sale (OFS) of shares to the tune of Rs 500 crore by promoters, according to the Draft Red Herring Prospectus (DRHP).</p>.<p>As a part of the OFS, Bina Kishore Chhabria, Resham Chhabria Jeetendra Hemdev and Neesha Kishore Chhabria will sell shares.</p>.<p>Allied Blenders and Distillers Ltd, which filed preliminary IPO papers with Sebi in January, obtained its observations on May 10, the update showed.</p>.Billionaire Birla said to mull seeking $1.2 billion in Novelis IPO.<p>In Sebi's parlance, obtaining observations means its go-ahead to float the public issue.</p>.<p>As per the draft papers, proceeds from the fresh issue worth Rs 720 crore will be used for the payment of debt, besides, a portion will be used for general corporate purposes.</p>.<p>The total debt on the company's books was around Rs 808 crore as of December 2023.</p>.<p> With a market share of over 8 per cent in the Indian-Made Foreign Liquor (IMFL) market by sales volumes in Fiscal 2023, Allied Blenders and Distillers had earlier filed draft papers with Sebi in 2022 for Rs 2,000 crore IPO.</p>.Economic Impact: Upcoming IPOs and their Contribution to India's GDP Growth.<p>The company got Sebi's approval to float the maiden public issue but did not proceed with the launch.</p>.<p> Allied Blenders and Distillers is engaged in the manufacturing, marketing and sale of alcoholic beverages in India and abroad.</p>.<p>The product portfolio of the firm comprises several brands of Indian-Made Foreign Liquor (IMFL) across whisky, brandy, rum and vodka.</p>.<p>Some of the major brands of the company include Officer's Choice Whisky, Sterling Reserve Whisky, Jolly Roger Rum and Class 21 Vodka.</p>.Boult IPO likely next year, says Co-founder Varun Gupta.<p>In addition, Chhattisgarh-based Vraj Iron and Steel received Sebi's go-ahead to float the IPO. The proposed IPO is a fresh issuance of shares worth Rs 171 crore with no OFS component.</p>.<p>The company filed its draft IPO papers with Sebi in January and received its observations on May 7, the update showed.</p>.<p>The equity shares of both companies are proposed to be listed on the BSE and NSE. </p>
<p>New Delhi: Allied Blenders and Distillers Ltd, the maker of Officer's Choice Whisky, has received Sebi's go-ahead to raise Rs 1,500 crore through an Initial Public Offering (IPO), an update with the markets regulator showed on Tuesday.</p>.<p>The initial share sale comprises fresh issuance of equity shares worth Rs 1,000 crore and an Offer-for-Sale (OFS) of shares to the tune of Rs 500 crore by promoters, according to the Draft Red Herring Prospectus (DRHP).</p>.<p>As a part of the OFS, Bina Kishore Chhabria, Resham Chhabria Jeetendra Hemdev and Neesha Kishore Chhabria will sell shares.</p>.<p>Allied Blenders and Distillers Ltd, which filed preliminary IPO papers with Sebi in January, obtained its observations on May 10, the update showed.</p>.Billionaire Birla said to mull seeking $1.2 billion in Novelis IPO.<p>In Sebi's parlance, obtaining observations means its go-ahead to float the public issue.</p>.<p>As per the draft papers, proceeds from the fresh issue worth Rs 720 crore will be used for the payment of debt, besides, a portion will be used for general corporate purposes.</p>.<p>The total debt on the company's books was around Rs 808 crore as of December 2023.</p>.<p> With a market share of over 8 per cent in the Indian-Made Foreign Liquor (IMFL) market by sales volumes in Fiscal 2023, Allied Blenders and Distillers had earlier filed draft papers with Sebi in 2022 for Rs 2,000 crore IPO.</p>.Economic Impact: Upcoming IPOs and their Contribution to India's GDP Growth.<p>The company got Sebi's approval to float the maiden public issue but did not proceed with the launch.</p>.<p> Allied Blenders and Distillers is engaged in the manufacturing, marketing and sale of alcoholic beverages in India and abroad.</p>.<p>The product portfolio of the firm comprises several brands of Indian-Made Foreign Liquor (IMFL) across whisky, brandy, rum and vodka.</p>.<p>Some of the major brands of the company include Officer's Choice Whisky, Sterling Reserve Whisky, Jolly Roger Rum and Class 21 Vodka.</p>.Boult IPO likely next year, says Co-founder Varun Gupta.<p>In addition, Chhattisgarh-based Vraj Iron and Steel received Sebi's go-ahead to float the IPO. The proposed IPO is a fresh issuance of shares worth Rs 171 crore with no OFS component.</p>.<p>The company filed its draft IPO papers with Sebi in January and received its observations on May 7, the update showed.</p>.<p>The equity shares of both companies are proposed to be listed on the BSE and NSE. </p>