Allied Blenders & Distillers Ltd IPO
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Allied Blenders & Distillers Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 533.81 L | ₹ 177.94 L | ₹ 186.46 L | ₹ 2,441.14 L | BSE | ₹ 1500 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 25 Jun, 24 | 27 Jun, 24 | 53 | ₹ 14,151 | Book Building | 02 Jul, 24 |
Allied Blenders & Distillers Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Breweries & Distilleries |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 21.21x | 26637011 | 564857994 |
| NII | 34.1x | 7991103 | 272473212 |
| Retail | 4.75x | 18645907 | 88548319 |
| Employee | 11.54x | 106762 | 1231667 |
| Total | 17.37x | 53380783 | 927111192 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Allied Blenders & Distillers Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 3,327.85 | 3,146.63 | 2,685.65 |
| EBITDA | 127.67 | 118.05 | 122.67 |
| PAT | 6.72 | 4.94 | 5.93 |
| Total Assets | 1,928.84 | 1,843.73 | 1,500.26 |
| Share Capital | 48.82 | 48.82 | 47.11 |
| Total Borrowings | 920.56 | 967.52 | 818.00 |
| Operating Activities (Net Cash) | 61.72 | 59.33 | 63.12 |
| Investing Activities (Net Cash) | 77.51 | -7.06 | 66.01 |
| Financing Activities (Net Cash) | 920.56 | 967.52 | 818.00 |
| Net Cashflow | 74.68 | 52.50 | 53.41 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Allied Blenders & Distillers Ltd
Allied Blenders and Distillers Private Limited was incorporated as `You and Me Properties Private Limited', pursuant to a certificate of incorporation dated October 8, 2008, issued by the RoC. The name of the Company was changed to `Moonlight Blenders and Distillers Private Limited', and a fresh certificate of incorporation dated July 22, 2009 was issued by the RoC. Pursuant to a scheme of amalgamation between Allied Blenders and Distillers Private Limited, its Own Properties Private Limited and the Company, the erstwhile name of which was Moonlight Blenders and Distillers Private Limited, dated April 1, 2009, and an order of the Bombay High Court dated February 5, 2010, the entire business undertakings of Allied Blenders and Distillers Private Limited and its Own Properties Private Limited were transferred to the Company the erstwhile name of which was Moonlight Blenders and Distillers Private Limited. Consequently, the name of the Company was changed to `Allied Blenders and Distillers Private Limited', and a fresh certificate of incorporation dated April 30, 2010, was issued by the RoC. Subsequently, pursuant to a resolution of our Board dated June 2, 2022 and a resolution of its Shareholders dated June 4, 2022, the Company was converted from a private company to a public company and consequently, the name was changed from `Allied Blenders and Distillers Private Limited' to `Allied Blenders and Distillers Limited', and a fresh certificate of incorporation under the Companies Act, 2013 was issued upon a change in name by the RoC on June 8, 2022.
India is primarily a distilled alcohol market with more than 92.0% of recorded pure alcohol consumption in form of distilled spirits. India is one of the fastest growing alcoholic beverage markets in the world growing from a small base of 1.3 litres per capita of recorded consumption of pure alcohol in 2005 to 2.7 litres per capita consumption in 2010 and further to estimated 3.12 litres per capita consumption in 2023.
Allied Blenders & Distillers Limited is an Indian-owned Indian-made foreign liquor (IMFL) company and as on the date of this Red Herring Prospectus, its product range includes five main categories of IMFL, i.e., whisky, brandy, rum, vodka and gin. The Company derives almost all of its revenue from contracts with customer - Sale of goods (IMFL) from the sale of its whisky products.
Peer Comparison:
- United Spirits Ltd
- Radico Khaitan Ltd
- Globus Spirits Ltd
Allied Blenders & Distillers Ltd IPO Key Points
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.
Risk
- 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.
Strategy
- 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.
- 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.
How To Apply for Allied Blenders & Distillers Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.