Another opportunity is coming for those investing money in IPO i.e. Initial Public Offering. Officers’ Choice whiskey maker Allied Blenders & Distillers is nearing its IPO. The company has filed its draft red-herring prospectus with the capital market regulator Securities and Exchange Board of India to Mangalwal.
The company will raise up to Rs 2,000 crore through its IPO. The maker of Officers’ Choice whiskey has placed a fresh issue of Rs 1,000 crore in an initial share sale of Rs 2,000 crore. The rest would include an offer for sale of shares worth ₹1,000 crore by the promoters and shareholders.
Promoter Bina Kishore Chhabria will sell shares worth Rs 500 crore through OFS. At the same time, promoters Resham Chhabria Jitendra Hemdev and Neesha Kishore Chhabria will sell shares worth Rs 250 crore. PLC/GT