Trends

Sebi approves the IPO of Allied Brothers, Distillers, and two other companies for 2023

Sebi approves the IPO of Allied Brothers, Distillers, and two other companies in 2023

Officer’s Preference The initial public offering, or (IPO), has been approved for Allied Blenders & Distillers Company Limited – a firm that produces whiskey; Divgi Torqtransfer Systems – a creator of automotive components, and IKIO Lighting, a company that makes LED lighting systems.Allied Blenders, Three Other Firms Get IPO Nod From SEBI

According to a Securities and Exchange Board of India (Sebi) update, the three businesses that submitted their first public offering papers to the regulator between September and October got the regulator’s observation letters between October 13 and 16. Getting an observation letter from Sebi clearly means that the IPO can start.

These companies’ shares are being recommended for listing on the BSE and NSE stock markets. According to the draft documents, the IPO for Allied Blenders & Distillers would include a fresh proposal of share capital worth Rs 1,000 crore and an Offer For Sale (OFS) by the promoter and a promoter group company for Rs 1,000 crore.

Bina Kishore Chhabria would sell up to Rs 500 crore shares to be part of the OFS, while Resham Chhabria, Jeetendra Hemdev, and Neesha Kishore Chhabria will each sell shares for up to Rs 250 crore.Allied Blenders and Distillers: On a new high

The issue’s proceedings will be applied to debt repayment and company purposes. As of March 31, the company’s Indian-Made Foreign Liquor (IMFL) brand portfolio included ten different whiskeys, brandy, rum, and different vodka options. Officer’s Selection Whisky, Sterling Select Whisky, Jolly Roger Rum, and Class 21 Vodka are a few of the company’s well-known products.

See also  Top 10 Best Corporate Social Responsibility Companies in Europe 2023

Following the Draft Red Herring Prospectus, the IPO of Divgi Torqtransfer Systems has a situation of shares totaling up to Rs 200 crores and an OFS of up to 31,46,802 share capital by investors and some other selling shareholders (DRHP).

The Nrjn Family Trust, Omani India Joint Investment Fund II, Brahma Bhachandra Divgi, Sandeep Bhalchandra Divgi, Ashish Anant Divgi, Arun Siddharth Idgunji, and Kishore Mangesh Kalbag would all sell shares to be part of the OFS.allied blenders: Whiskey maker Allied Blenders picks banks for IPO - The Economic Times

The company’s capital spending requirements for the purchase of technology for its manufacturing facilities, and other general business goals, will be happy with the proceedings of the new issuance.

Divgi is a producer of automotive parts with the ability to develop and provide torque couplers, transfer cases, and dual-clutch automatic transmission (DCT) system-level solutions. Its three production and assembly facilities are dispersed across India. The new situation of up to 350 crore rupees worth of shares and the OFS of up to 75 lakh rupees price of the equity shares by the workers Hardeep Singh & Sumeet Kaur make up the IKIO Lighting IPO.

The case then shifts to a new development in which Rs. 50 crore will be used to settle the debt. The industry’s wholly-owned affiliate, IKIO Solutions, will use Rs 236.68 crore for business purposes and the construction of a new module in Noida, Uttar Pradesh. Products using light-emitting diodes (LEDs) are made by IKIO Lighting.

On the other hand, on December 16, Sebi returned the Motions Jewellers Ltd. draft papers. In October, the business submitted draft paperwork to Sebi.Liquor maker Allied Blenders gets SEBI's go-ahead for Rs 2000-crore IPO - The Economic Times

Shekhar Ramamurthy has just been appointed by Allied Blenders & Distillers Pvt . ltd. as the organization’s Executive Deputy Chairman, effective July 1, 2021.

See also  Congress presses for debate on no-confidence motion; govt ‘10-day window’ remark

Nick Blasquez, who departed ABD Private Limited to explore other career interests, is replaced by him. Nick Blasquez has been thanked for his achievements and the transformational journey he oversaw while serving to be the chairman by Mr. Kishore Chhabria.

Shekhar Ramamurthy has worked with the UB Group for more than three decades in a variety of executive positions, the most recent of which was that of Managing Director of United Holdings Limited. He enjoys widespread respect in the alcohol sector for his leadership and endurance to see possibilities and spur growth.

ABD is well-positioned to continue its expansion through the development of amazing brands, winning over customers, and generating value for all members because the country and the sector have recovering from the effects of the Covid-19 epidemic. Shekhar Ramamurthy will lead this excursion.Allied Blenders & Distillers: Officer's Choice whisky maker Allied Blenders files Rs 2,000 crore-IPO papers with Sebi, Retail News, ET Retail

The IPO consists of a proposal for sale by the workers, Bina Kishore Chhabria, Resham Chhabria, Jeetendra Hemdev, and Neesha Kishore Chhabria, for up to Rs 1,000 crore in total, and a fresh situation of shares for Rs 1,000 crore. The founder and promoter group companies are the sole owners of the Mumbai-based liquor company.

Officer’s Choice Whiskey, Sterling Reserve, and Officer’s Choice Blue are some of the company’s main products. Allied Blenders produce global alcoholic drinks. The company’s brands are provided in 30 states & Union Territories. It desires to use Rs. 700 crore of the starts from the new proposal to pay down debt and the remaining. To increase its profitability, the company wishes to introduce products in the luxury, semi-premium, or deluxe categories.

See also  Square launches SDK for in-app payments

Edited by Prakriti Arora

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker