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‘Officer’s Choice’ whiskey maker planning a $300 million IPO next year

Allied Blenders & Distillers Private Limited, a homegrown brewery player, is eying to raise primary funds as much as $300 million (about Rs 2,260 crore) via initial public offering (IPO).

According to an Economic Times report, the company may launch its initial stake sale in the next year valuing itself at $2.5 billion (Rs 18,850 crore).

The company, which is known for manufacturing ‘Officer’s Choice’ whiskey, is likely to file its draft red herring prospectus (DRHP) in the first quarter of next calendar, the report said citing sources.

According to the sources, the company has not finalized anything over the timing and valuations, and has kept the doors of discarding the IPO route.

The Mumbai based distiller officially has not commented anything so far on the media reports. However, the company has joined the pipeline of domestic player, which are in slew of considering the IPOs.

The Government of India backed Life Insurance Corporation of India and Flipkart Online Services, the Indian e-commerce firm controlled by Walmart, are among key players to make debut on the bourses in the next year.

Allied Blenders sells various kinds of alcohol based drinks including whiskey, rum, brandy and vodka in more than 29 countries, the company website said.

According to the company data, it has as many as nine bottling units, one distilling facility and over 20 outsourced manufacturing sites.

Alcoholic beverage consumption in India is on the rebound as pandemic-linked curbs are eased. Consumption will expand at about 1.5 times the rate of economic growth, according to S Group AG earlier this month.

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