The maker of the initial share sale of Rs 2,000 crore, including promoters and shareholders, will make an offer for sale (OFS) of shares worth ₹ 1,000 crore. Kishore Rajaram Chabria, Beena Kishore Chabria, Resham Chabria Jeetendra Hemdev, Bina Chabria Enterprises Pvt. Ltd., BKC Enterprises Pvt.
Promoter Beena Kishore Chabria will sell Rs 500 crore worth of shares through OFS. Promoters Reshma Chabria, Jitendra Hemdev and Nisha Kishore Chabria will offload shares worth Rs 250 crore, according to the company’s draft prospectus.
The move is intended to settle the company’s financial liabilities and other scheduled repayments. The draft states that the bulk of the IPO amount is intended to be spent in this way.
Allied Blenders & Distillers (ABD) is the largest spirit company in India. They are the makers of iconic products such as Officer’s Choice Whiskey and Sterling Reserve. Allied Blenders sells whiskey, rum, brandy and vodka in 29 countries. The company owns nine bottling units, one distilling unit and more than 20 outsourced manufacturing sites.