Indian spirits manufacturer Allied Blenders & Distillers plans to raise $300 million through a public offering IPO next year.
This brand of Indian whisky is owned by Allied Blenders & Distillers (ABD), formerly known as BDA, and is ranked among the top spirits brands in the world.
Noted as the top spirit brand, ABD is famous for introducing premium versions of Officer’s Choice – Officer’s Choice Blue and Officer’s Choice Black. The black variety is aged in charred oak barrels with Indian grain spirits and rare Scotch malts.
They asked not to be identified because the information was private. They said that the whiskey maker plans to file preliminary documents in the first quarter of 2022. According to the report, the valuation and timing of the IPO have yet to be determined, and Allied Blenders could still opt not to go forward with it. A representative for the company declined to comment.
A slew of Indian firms plans to list on the local exchange next year, including Mumbai’s distiller. First-time share sales are being prepared by Life Insurance Corporation of India and Flipkart Online Services, an Indian e-commerce firm controlled by Walmart Inc.
According to its website, Allied Blenders sells whiskey, rum, brandy, and vodka in 29 countries. It has nine bottling facilities, one distilling facility, and over 20 outsourced manufacturing sites. As pandemic-linked curbs are eased, alcohol consumption in the second-most populous country rises. The consumption growth rate will be 1.5 times that of economic growth, UBS Group AG said earlier this month.
