abd: Liquor giant ABD to file for ₹2,000cr IPO this month – Times of India
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MUMBAI: Allied Blenders & Distillers (ABD), the largest domestic liquor company, is set to file for a Rs 2,000-crore IPO later this month at a valuation of nearly Rs 20,000 crore, or $2. 5 billion. The company has appointed ICICI Securities, Axis Capital, Kotak Mahindra Capital and JM Financial to manage the public offer.
The IPO will be a combination of a fresh fund-raising by the company and an offer for sale by some of its promoters, in a 50:50 ratio, sources said. It will use Rs 1,000 crore to retire part of its debt and some amount to expand its business, including launch of new brands, they added.
ABD, the makers of popular brands like Officer’s Choice and Sterling Reserve, had been planning for some years to go public. ABD is the biggest homegrown alcohol company in India and third-largest overall, behind global players Diageo and Pernod Ricard, according to merchant bankers.
A text message sent to Kishore Chhabria, chairman and the main promoter of ABD, did not elicit any reply till the time of going to press. Once listed, ABD will be the first listing of a brewery & distiller in more than a decade. According to BSE data, Globus Spirits was the last such company to go public in 2009.
ABD began its operations in 1988 with Officer’s Choice being its flagship brand. Currently, it’s the third-largest selling whisky in the world. In 2017, ABD forayed into the premium segment with Sterling Reserve.
The IPO will be a combination of a fresh fund-raising by the company and an offer for sale by some of its promoters, in a 50:50 ratio, sources said. It will use Rs 1,000 crore to retire part of its debt and some amount to expand its business, including launch of new brands, they added.
ABD, the makers of popular brands like Officer’s Choice and Sterling Reserve, had been planning for some years to go public. ABD is the biggest homegrown alcohol company in India and third-largest overall, behind global players Diageo and Pernod Ricard, according to merchant bankers.
A text message sent to Kishore Chhabria, chairman and the main promoter of ABD, did not elicit any reply till the time of going to press. Once listed, ABD will be the first listing of a brewery & distiller in more than a decade. According to BSE data, Globus Spirits was the last such company to go public in 2009.
ABD began its operations in 1988 with Officer’s Choice being its flagship brand. Currently, it’s the third-largest selling whisky in the world. In 2017, ABD forayed into the premium segment with Sterling Reserve.
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