ABD’s IPO expected in June

ABD aims to raise Rs 1500 crore via IPO, allocating 35% of shares to retail investors, primarily for repaying debts. The company, with a robust national distribution network, received SEBI's final nod post its January refiling.

By Spiritz Desk in Latest News
New Update
SEBI approves Allied Blenders’ IPO

Allied Blenders & Distillers (ABD) is set to go for a massive Rs.1500 crore IPO. With an 8.2 percent market share, the company has a widespread distribution network across India. 

The proceeds from the IPO are primarily aimed to be used for repayment of outstanding borrowings. According to the draft papers, Allied Blenders & Distillers is looking to raise Rs.1,500 crore through a mix of fresh shares and OFS. The upcoming IPO is worth noting because 35 percent of shares are reserved for retail investors.

The company had 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 resubmitted its IPO papers with SEBI on 15th January 2024.

 

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