Allied Blenders & Distillers Pvt., an Indian spirits maker, is considering an initial public offering that could raise up to $300 million next year, according to people familiar with the situation.
The maker of the “Officer’s Choice” whiskey has opened talks with advisors and is seeking a valuation of at least $2.5 billion, the people said, asking not to be identified because the information is private. The company plans to file preliminary documents as early as the first quarter of 2022, the people said.
No final decision has been made about the evaluation or timing of a potential IPO, and Allied Blenders may still decide to go ahead with the plan, he said. A representative for the company declined to comment.
The Mumbai-based distiller will be among several Indian businesses considering a local IPO next year. State-backed Life Insurance Corporation of India and Walmart Inc-controlled Indian e-commerce firm Flipkart Online Services Pvt, are among those preparing for the first-ever share sale.
Allied Blenders sells spirits ranging from whiskey and rum to brandy and vodka in 29 countries, according to its website. The website shows that it has nine bottling units, a distilling facility and more than 20 outsourced manufacturing sites.
Alcohol consumption in India is on a rebound in the world’s second most populous country as restrictions linked to the pandemic are eased. According to a note from UBS Group AG earlier this month, consumption will grow at about 1.5 times the rate of economic growth.
This story has been published without modification in text from a wire agency feed. Only the title has been changed.
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