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Allied Blenders and IPO
Price Band
₹267.0–281.0
Issue Size
₹1500.0 Cr
Lot Size
53 shares
Min Investment
₹14,893
GMP
+₹59.0 (21.0%)
Issue Price
₹281.0
Subject to Sauda
₹2400
Paid only if allotted
Allied Blenders and IPO AI Summary
- Allied Blenders and IPO is listed on BSE, NSE in the Breweries & Distilleries sector.
- Price band: ₹267.0–₹281.0 per share, lot size 53 shares (min. investment ₹14,893).
- Subscription window: 25 Jun–27 Jun 2024, listing on 02 Jul 2024.
- Current GMP is +₹59.0 (21.0%), an estimated listing price of ₹340 — unofficial and can change daily.
Allied Blenders and Distillers is an emerging player in the Indian liquor market with a strong brand presence and export capabilities. The IPO aims to raise ₹1,500 Cr, with proceeds allocated for debt repayment and corporate purposes. The company has shown fluctuations in revenue and profit, which potential investors should consider.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Allied Blenders and IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 27 Jun 2024 — not a current signal.
Reviewers are split — see individual calls below.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Allied Blenders and IPO Grey Market Premium (GMP) Today
GMP
+₹59.0
GMP %
+21.0%
Est. Listing
₹340.0
Updated: 25 Jul 2026 14:05
About the Company
Incorporated in 2008, Allied Blenders and Distillers is an Indian-made foreign liquor company. The company offers four Indian-made foreign liquor categories: whisky, brandy, rum, and vodka. In addition, they sell packaged drinking water under the Officer's Choice, Officer's Choice Blue, and Sterling Reserve brands. The Officer's Choice Whisky was introduced in 1988 as the company's foray into the mass premium whisky market. It is one of the most-selling whisky brands in the world in terms of annual sales volumes from 2016 to 2019. As of December 31, 2023, the company's products were exported to 14 international markets, including the Middle East, North and South America, Africa, Asia, and Europe. The company owns and operates a distillery in Rangapur, Telangana, which is spread over 74.95 acres and has a built-up area of over 25,000 square meters. The company's in-house distillation capacity of extra neutral alcohol (ENA), the key material used in manufacturing its products, is 54.75 million litres annually. The company also have extensive bottling capabilities across India. As of December 31, 2023, the company owned and operated nine bottling units and utilized the entire licensed capacity of five third-party bottling facilities. As of March 31, 2023, the products were sold in 79,329 retail outlets across 30 states and union territories in India.
Company Financials (₹ Cr)
As of 2023-12-31
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 2,741.39 | 2,487.70 | 2,248.35 | 2,298.57 |
| Total Income | 5,914.98 | 7,116.75 | 7,208.17 | 6,397.81 |
| Profit After Tax | 4.23 | 1.60 | 1.48 | 2.51 |
| NET Worth | 409.26 | 406.10 | 404.10 | 381.78 |
| Reserves and Surplus | 360.43 | 357.28 | 356.99 | 327.85 |
| Total Borrowing | 798.11 | 780.82 | 846.91 | 954.74 |
Key Ratios
EPS
₹0.07
NAV
₹16.64
ROE
0.39%
ROCE
25.87%
RoNW
0.39%
P/B Value
16.77
P/E Ratio
4284.57
Market Cap
₹7859.59 Cr
PAT Margin
0.05%
Debt/Equity
1.85
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Globus Spirits Ltd. | 307.83 | 13.78% | 17.26 | 42.43 | 42.39 |
| Radico Khaitan Ltd. | 165.13 | 9.98% | 95.87 | 16.48 | 16.48 |
| United Spirits Ltd. | 82.48 | 18.76% | 73.16 | 16.01 | 16.01 |
| Allied Blenders and Distillers Limited This IPO | 16.64 | 0.39% | 4284.57 | 0.07 | 0.07 |
Promoters
Kishore Rajaram Chhabria, Bina Kishore Chhabria, Resham Chhabria Jeetendra Hemdev, Bina Chhabria Enterprises Pvt.Ltd., BKC Enterprises Pvt.Ltd., Oriental Radios Pvt.Ltd. and Officer's Choice Spirits Pvt.Ltd.
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Prepayment or scheduled re-payment of a portion of certain outstanding borrowings availed by our Company; and 720.00 2 General corporate purposes 221.47
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹7,208.17 Cr for the period ending 31 Mar 2022, decreasing to ₹7,116.75 Cr by 31 Mar 2023, and further declining to ₹5,914.98 Cr by 31 Dec 2023, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax was ₹1.48 Cr for the period ending 31 Mar 2022, rising to ₹1.60 Cr by 31 Mar 2023, and increasing to ₹4.23 Cr by 31 Dec 2023, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
At the issue price of ₹281.0, Allied Blenders and Distillers has an implied P/E ratio of 4284.57, compared to peers trading at P/E ratios ranging from 17.26 to 95.87.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO based on unofficial trading before the actual listing. A positive GMP suggests that the stock may list at a higher price than the issue price, while a negative GMP indicates the opposite.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against the company's growth potential, market position, and financial health.
Who May Want to Wait
Conservative investors who prefer stable, established companies with predictable earnings may want to avoid IPOs like this, especially given the high P/E ratio and recent declines in revenue.
IPO Timeline, Explained
The IPO opens for subscription on June 25, 2024, and closes on June 27, 2024. Allotment of shares will be finalized by June 28, 2024, and the stock is expected to be listed on July 2, 2024.
Listing Gains — The Risk
Listing gains can be unpredictable and are influenced by market conditions, investor sentiment, and the company's performance. Investors should be aware that while some IPOs may see significant gains on listing day, others may not perform as expected.
This evaluation is generated from Allied Blenders and's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Allied Blenders and IPO GMP today?
Allied Blenders and IPO GMP today is +₹59.0 (21.0%), indicating an estimated listing price of ₹340. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Allied Blenders and IPO?
The price band of Allied Blenders and IPO is ₹267.0–₹281.0 per share.
When does Allied Blenders and IPO open and close?
Allied Blenders and IPO opens on 25 June 2024 and closes on 27 June 2024.
When does Allied Blenders and IPO list on the stock exchange?
Allied Blenders and IPO listed on 02 July 2024 at ₹340.0.
What is the lot size for Allied Blenders and IPO?
The lot size for Allied Blenders and IPO is 53 shares, requiring a minimum investment of ₹14,893.
What is the lot size for this IPO?
The lot size for this IPO is 53 shares.
What is the minimum investment required?
The minimum investment required is ₹14,893.
What is the price band for the IPO?
The price band for the IPO is ₹267.0 to ₹281.0.
When does the IPO open and close?
The IPO opens on June 25, 2024, and closes on June 27, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO based on unofficial trading.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
25 Jun 2024
Close
27 Jun 2024
Allotment
28 Jun 2024
Listing
02 Jul 2024
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