According to Bloomberg, Indian spirits company Allied Blenders & Distillers Pvt. has picked banks including ICICI Securities Ltd and Axis Capital Ltd to oversee its initial public offering.
According to the persons who asked not to be named because the information is confidential, the Mumbai-based distiller wants to file preliminary offer paperwork by April and may add additional bankers to the roster. According to Bloomberg News, Allied Blenders intends to raise $300 million in a first-time share offering and seeks a worth of at least $2.5 billion.
As per the Bloomberg report, the business hopes to list in Mumbai as soon as this year, depending on market volatility and regulatory permission. According to the company, half of Allied Blenders’ offering will be primary shares and the other half will be existing shares.
The persons indicated that discussions are ongoing and that the parameters of the share sale, including the quantity and timetable, might change. Allied Blenders and ICICI Securities declined to comment, and Axis Capital did not reply promptly to a request for remark.
The creator of “Officer’s Choice” whiskey will be among a slew of firms planning first-ever share sales in Mumbai this year, including Life Insurance Corp. of India.
According to their website, Allied Blenders distributes spirits in 29 countries, ranging from whiskey and rum to brandy and vodka. The company has nine bottling plants, one distillery, and more than 20 outsourced production facilities.
