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Allied Blenders & Distillers Ltd IPO

Small CapForeign Liquor Manufacturing
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IPO Details

Bidding Dates

25 Jun '24 - 27 Jun '24

Minimum Investment

₹14,893/1 Lot ( 53 shares )

Price Range

₹267 - ₹281

Maximum Investment

₹193,609/13 Lot ( 689 shares )

Retail Discount

To be announced

Issue Size

₹1,500.00 Cr

Investor category and sub category

Qualified Institutional Buyers  |  Retail Individual Investors  |  Non-institutional Investors  |  Eligible Employees and Eligible Shareholders

IPO Dates

Important dates with respect to IPO allotment and listing

Opening Date

Jun 25, 24

Closing Date

Jun 27, 24

Allotment Date

Jun 28, 24

Initiation of Refunds

Jul 1, 24

Credit of Shares to Demat

Jul 1, 24

Listing Date

Jul 2, 24

Cut-off time for UPI mandate confirmation

Jun 27, 24

IPO Subscription Details

DateQIBEMPNIIRetailTotal

Day 12024-06-25

0.02x 2.44x 0.93x 0.73x 0.58x

Day 22024-06-26

0.15x 5.48x 3.14x 1.75x 1.61x

Day 32024-06-27

53.01x 10.19x 34.05x 4.65x 24.80x

About Allied Blenders and Distillers Limited

Allied Blenders and Distillers Limited is the largest Indian-owned company in the Indian-made foreign liquor (IMFL) sector and ranked the third largest IMFL company in India by annual sales volume from Fiscal 2014 to Fiscal 2022, according to the Technopak Report. It stands out as one of the four spirits companies in India with a comprehensive pan-India sales and distribution network. In the Indian whisky market, the company had an estimated 11.8% market share by sales volume in Fiscal 2023.

The company launched its flagship brand, Officer’s Choice Whisky, in 1988, targeting the mass premium whisky segment. Between 2016 and 2019, Officer’s Choice Whisky was one of the top-selling whisky brands globally. As of August 31, 2023, the company's product portfolio included 17 major IMFL brands across whisky, brandy, rum, and vodka. Some of its notable brands, such as Officer’s Choice Whisky, Sterling Reserve, Officer’s Choice Blue, and ICONiQ Whisky, have sold over a million 9-liter cases annually.

Allied Blenders and Distillers Limited operates a distillery in Rangapur, Telangana, with an in-house distillation capacity of 54.75 million liters per year of extra neutral alcohol (ENA). The company also relies on 32 bottling facilities across India, including nine owned by the company. This extensive network allows flexibility in production and helps keep product prices competitive.

As of August 31, 2023, Allied Blenders and Distillers products were sold in 79,329 outlets across 30 states and union territories in India and exported to 14 international markets. The company has also invested significantly in brand building, leveraging partnerships with sports teams and celebrity endorsements to enhance brand awareness and consumer engagement.

With a diverse product range, extensive distribution network, and strong brand recognition, Allied Blenders and Distillers Limited has solidified its position in the Indian alcoholic beverages market, driving significant business growth and financial performance.

Industry Outlook:

  1. India’s domestic consumption, measured by PFCE, is expected to grow at a CAGR of 10.4% from Fiscal 2023 to Fiscal 2028, reaching USD 3.4 trillion. This growth indicates a strong increase in consumer demand, providing more opportunities for Allied Blenders and Distillers Limited (ABD) to expand sales and market penetration.
  2. Recorded alcohol per capita consumption in India grew from 1.3 litres in 2005 to 3.1 litres in 2022, with the market size projected to grow at a CAGR of 2.2% by volume from 2022 to 2027. The dominance of spirits, which account for over 92% of recorded alcohol consumption, suggests a healthy growth environment for the alcohol industry. Allied Blenders and Distillers can capitalise on this by introducing new products and expanding its reach in both urban and rural markets.
  3. India’s regulatory framework favors domestic players with high customs duties on imported alcohol. This protectionism helps Allied Blenders and Distillers Limited maintain a competitive edge against foreign brands. The trend towards premiumisation and the growing base of new consumers offer a substantial market for ABD's premium and mid-range products.

Allied Blenders and Distillers Ltd. IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Allocate ₹7,200 million from the Net Proceeds to prepay or repay certain loans to reduce overall debt and debt servicing costs.
  2. Deploy the remaining Net Proceeds for general corporate purposes, not exceeding 25% of the Gross Proceeds.

Peer Details

The following are the listed industry peers of Allied Blenders and Distillers Limited:

  1. United Spirits Limited
  2. Radico Khaitan Limited
  3. Globus Spirits Limited

How to Check the Allotment Status of the Allied Blenders and Distillers Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the individual order details page of the IPO that you had applied for.
  • Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email, and SMS.

Contact Details of Allied Blenders and Distillers Limited

Registered office: 394-C Lamington Chambers, Lamington Road, Mumbai– 400 004, Maharashtra, India

Email: Complianceofficer@abdindia.com

Phone: +91 22 43001111

IPO Financials

Particulars Year ending on March 31, 2023Year ending on March 31, 2022
Revenue from Operations (in ₹ lakh)71,056.80 71,969.20
Profit After Tax (PAT) (in ₹ lakh)16.01 14.76
Cash & Cash Equivalents (in ₹ lakh)275.45 196.70
Return on Net Worth (%)0.39 0.37
Earnings Per Share (“EPS”) (%)0.07 0.06
EBITDA(in ₹ lakh)1,960.61 2,075.51
Return On Capital Employed (%)25.87 25.13

Know before investing

Strengths

5
  1. The company is one of the premier liquor companies in India, with an 8.2% market share in the IMFL category 2021 in sales volume.

  2. Four Allied Blenders and Distillers Limited brands are 'Millionaire Brands.'

  3. Allied Blenders and Distillers Limited excel in the premium segment with strong marketing.

  4. Allied Blenders and Distillers Limited boasts advanced manufacturing and R&D facilities.

  5. It has developed an extensive pan-India presence, serving all permitted states and Union Territories through 12 regional sales service offices.

Risks

5
  1. Allied Blenders and Distillers Limited's heavy reliance on whisky sales poses financial risks.

  2. Any decline in the popularity of Allied Blenders and Distillers Limited's brands could harm profits.

  3. Allied Blenders and Distillers Limited faces price control challenges across different states.

  4. Supply chain disruptions could impact Allied Blenders and Distillers Limited's production stability.

  5. Allied Blenders and Distillers Limited's participation in tenders exposes them to compliance risks.

  • How to Apply in IPO
  • How to Check IPO Allotment Status
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Login to Angel One App / Website & click on IPO

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Select desired IPO & tap on "Apply"

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Enter UPI ID, set quantity/price & submit

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Accept mandate on the UPI app to complete the process

Allied Blenders & Distillers Ltd IPO FAQs

Allied Blenders and Distillers Limited IPO is a book built issue IPO. The IPO will be open from June 25, 2024, to June 27, 2024.
The Basis of Allotment will happen on Friday, June 28, 2024.
The IPO subscription window will open on June 25, 2024.
The lot size for Allied Blenders and Distillers Limited's IPO is 1 lot of 53 shares, with a minimum investment of ₹14,893.
The listing date for Allied Blenders and Distillers Limited is July 2, 2024.
Steps to check IPO allotment status on Angel One’s app:
  • Log in to the Angel One app
  • Go to the individual order details page of the IPO that you had applied for. 
  • Check the IPO allotment status as such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
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