On Tuesday, Allied Blenders and Distillers had filed a draft prospectus for an initial public offering (IPO) to raise Rs 2,000 crore. The company’s new shares of up to Rs 1,000 crore, while promoters and existing shareholders will sell in an offer for sale (OFS) of another Rs 1,000 crore.

All these shares are included in OFS Bina Kishore Chhabria selling up to Rs 500 crore, Resham Chhabria Jeetendra Hemdev up to Rs 250 crore, and Neesha Kishore Chhabria up to Rs 250 crore. The fresh issue shares proceed Rs 708.98 crore. These fresh issue shares will be utilised for prepayment or scheduled repayment of a portion of certain outstanding borrowings and the balance for general corporate purposes.

Mumbai-based Allied Blenders are the third-largest IMFL maker in India and the largest Indian-owned one in terms of annual sales volumes. It is one of India’s only four spirits companies with a pan-India sales and distribution footprint. It is a leading exporter of IMFL in annual sales volumes between fiscal 2019 and fiscal 2021, with an estimated peak share of 20 per cent in the last fiscal year.

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Across whisky, brandy, rum, and vodka are the ten major brands for its product portfolio as of 31 March.

Allied Blenders and Distillers’ revenue from operations stood at Rs 6,378.78 crore for fiscal 2021, and profit after tax at Rs 2.51 crore. For nine months ending December 2021, operating income stood at Rs 5,444.98 crore and profit after tax at Rs 3.30 crore.