Allied Blenders files draft papers for Rs.2,000-Cr IPO

Allied Blenders and Distillers has filed draft papers with capital markets regulator Sebi for a INR 2,000 crore initial public offer. The Mumbai-based company is looking to raise INR 1,000 crore and make an offer-for-sale (OFS) of INR 1,000 crore by its promoter and other selling shareholders. The company intends to use the proceeds from its fresh issuance for prepayment or scheduled repayment of a portion of certain outstanding borrowings and balance for general corporate purposes. ICICI Securities, Axis Capital, JM Financial, Kotak Mahindra Capital Company and Equirus Capital are the book-running lead managers to the issue.