Allied Blenders IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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Allied Blenders

CMP

296.75

+3.95 (1.35%)

  • DRHP
₹281

Offer Price

₹ 1,500.00 Cr

Issue Size

₹ 14,893

Min Investment

23.55x

Times Subscribed

53

Lot size

Time Line

  • 25
    Jun 2024
    Open
  • 27
    Jun 2024
    Close
  • 28
    Jun 2024
    Finalisation of Basis of Allotment
  • 01
    Jul 2024
    Initiation of Refunds
  • 01
    Jul 2024
    Transfer of Shares to Demat Account
  • 02
    Jul 2024
    Listing Date

Shares Offered

Number of Times Subscribed

Objects of the Offer

  • Increase market share of Officer`s Choice Whisky across regions.

  • Introduce new products within the premium, semi-premium and deluxe segments to strengthen presence in other categories.

  • Continue to focus on improving operating efficiencies.

  • Evaluate growth opportunities through selective acquisitions.

  • Focus on environmental and social practices.

Products & Services

  • Allied Blenders & Distillers Limited is an Indian-owned Indian-made foreign liquor ("IMFL").

Strengths

  • Among the largest IMFL companies in India with a diversified and contemporary product portfolio.

  • Strong brand recognition.

  • Strategically located, large scale and advanced manufacturing facilities with a sophisticated research and development centre.

  • Access to extensive pan-India distribution network with ability to scaleAccess to extensive pan-India distribution network with ability to scale.

  • Well-positioned to capture tailwinds in the Indian IMFL industry.

Risks

  • The company is substantially dependent on the sales of its whisky products which generated 97.58%, 96.90%, and 95.38% its revenue from operations in Fiscal 2021, 2022 and 2023 and 95.76% and 94.33%, respectively, of its revenue from operations for the nine months ended December 31, 2022 and December 31, 2023. Any reduction in sales of these products could have a material adverse effect on its business, financial condition, results of operations and prospects.

  • The company has experienced volatile fluctuations in its profit after tax for the year/period and PAT Margin in the past. There is no guarantee that these will improve in the future and the Company will be able to generate higher returns.

  • The company is significantly dependent on the sale of its whisky products under the Officer`s Choice brand which constituted 83.76%, 82.29%,75.85%, 76.78% and 73.02% of its total sales volume in Fiscal, 2021, 2022 and 2023 and nine months ended December 31, 2022 and December 31, 2023. An inability to maintain or enhance the popularity of its Officer`s Choice brand may adversely impact the company`s business prospects and financial performance.

  • Increasing competition in the IMFL industry may create certain pressures that may adversely affect its business, prospects, results of operations, cash flows and financial condition.

  • Any past or current actions taken by the Central Consumer Protection Authority or any other statutory or regulatory bodies, may impact its operations and financials of the Company.

Company Promoters

Promoters Holding

Issue For IPO
100.00%
Pre Holding

100.00%

Post Holding

-

Top Promoters Holding

Financials

All values in Cr

Mar-2022 Mar-2023 Mar-2023 3-Yr trend
Revenue 7,196.92 (12.80%) 7,105.68 (-1.30%) 0.39 (-)
Gross Profit 7,196.92 (12.80%) 7,105.68 (-1.30%) 0.39 (-)
Net Income 7,196.92 (12.80%) 7,105.68 (-1.30%) 0.39 (-)
Assets 7,196.92 (12.80%) 7,105.68 (-1.30%) 0.39 (-)
Liabilities 7,196.92 (12.80%) 7,105.68 (-1.30%) 0.39 (-)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
Allied Blenders & Distillers Ltd 7,105.68 1.60 1,211.90 805.80 0.39 0.07 16.64 1.41 0.65
United Spirits Ltd 10,611.60 1,136.30 9,761.50 9,761.50 18.93 16.01 82.47 11.64 0.00
Radico Khaitan Ltd 3,142.82 220.35 3,719.09 3,719.09 9.98 16.48 165.17 5.92 0.32
Globus Spirits Ltd 2,109.06 122.20 1,591.08 1,591.08 13.78 42.43 307.83 7.68 0.31

Book Running Managers

  • ICICI Securities Ltd
  • Nuvama Wealth Management Ltd
  • ITI Capital Ltd

Registrar & Transfer Agent

Link Intime India Pvt Ltd

C-101 247 Park,
L B S Marg,
Vikhroli West - Mumbai-400083
Phone : 91-22-49186000 Fax: 91-22-49186060

Company Contact Information

394-C Lamington Chambers,
Lamnington Road,
Mumbai - 400004
Phone : 91-22-6777 9777 Email : complianceofficer@abdindia.com www.abdindia.com

Offer Related Information

Initial public offering of up to 5,33,90,079 equity shares of face value of Rs. 2 each of the company for cash at a price of Rs. 281 per equity share (including a share premium of Rs. 279 per equity share) ("Offer Price") aggregating up to Rs. 1500.00 crores ("Offer"). The offer comprises a fresh issue of up to 3,55,96,486 equity shares of face value of Rs. 2 each by the company aggregating up to Rs. 1000.00 crores ("Fresh Issue") and an offer for sale of up to 1,77,93,593 equity shares of... More

News

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