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The liquor company worked wonders and investors became rich

Sagar Patel

By Sagar Patel

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Officer’s Choice Whisky Company Image credit source: File photo

Officer’s Choice whisky maker Allied Blenders and Distillers has made a strong entry into the stock market. The company’s initial public offering received a good response. The company’s IPO was listed on the stock market on Tuesday with a rise of 14 per cent from Rs 281.

The stock opened at Rs 318.10 on BSE, up 13.20 per cent from the IPO price. It later touched Rs 322.40 with a gain of 14.73 per cent. The shares of this company were trading on NSE at Rs 320 with a gain of 13.87 per cent. The market capitalisation of the company has been Rs 8,869.61 crore.

Raised so many crores of rupees with the IPO

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Allied Blenders and Distillers raised Rs 1,500 crore through IPO. The company’s IPO included a fresh issue of shares worth Rs 1,000 crore and OFS worth Rs 500 crore to existing shareholders. Its price band was fixed at Rs 267-281 per share. Allied Blenders and Distillers Limited has raised Rs 449 crore from anchor (large) investors. The company will use these funds to repay the loan and a portion will be used for general corporate purposes.

What the company does

Allied Blenders and Distillers is one of the largest companies producing foreign liquor made in India. This company has products of 16 brands of whiskey, brandy, rum and vodka. These include Officers Choice Whiskey, Sterling Reserve, Officers Choice Blue and Iconic Whiskey etc. The good listing of this company would have brought huge profits to those investors who would have invested money in its IPO. The investor who would have invested money in the IPO at the price of Rs 281 would have had his money increase by 14 percent today i.e. he would have made a profit of 14 percent in just one week. The IPO of this company was opened on June 25 and the company gave the opportunity to invest money in it till June 27. In recent years there has been a rise in the shares of liquor manufacturing companies in the country.

Sagar Patel

Sagar Patel

I am Sagar Patel, specializing in business news reporting. With a keen focus on economic trends, market analysis, and corporate developments,

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