ABD raises Rs. 449 cr

Ahead of its IPO, Allied Blenders and Distillers Ltd. raises Rs. 449 crore from prominent anchor investors, setting a strong prelude to its anticipated public offering scheduled from 25th to 27th June. The firm's robust anchor round signals positive market reception.

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ABD raises Rs. 449 cr

Allied Blenders and Distillers Ltd. has raised Rs. 449 crore from anchor investors a day before its initial share-sale opening for public subscription.

JM Financial MF, Jupiter India Fund, Societe Generale, Goldman Sachs (Singapore) Pte, Nippon India Mutual Fund (MF), LIC MF, Wipro Commercial (India) Ltd. and Troo Capital were among anchor investors who were allotted shares, according to a release on the subject.

The company has allotted 1.6 crore equity shares to 17 funds at Rs. 281 apiece, which is also the upper end of the price band. This translates into a transaction size of Rs. 449 crore, a release added.

The Rs. 1,500-crore issue with a price band of Rs 267 to Rs. 281 per share will open for public subscription during 25th -27th June. The initial share sale comprises fresh issuance of equity shares worth Rs. 1,000 crore and an offer-for-sale (OFS) of shares worth Rs. 500 crore by promoters.