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The initial share sale comprises fresh issuance of equity shares worth Rs 1,000 crore and an Offer-for-Sale (OFS) of shares to the tune of Rs 500 crore by promoters
Allied Blenders and Distillers (ABD) is engaged in the manufacturing, marketing and sale of alcoholic beverages in India and abroad.
The owners of India's top selling whiskey - Officer's Choice - are now looking beyond the flagship brand. In fact, now that its long-standing dispute with United Spirits over Officer's Choice has been finally settled.
Shares of Vijay Mallya's United Spirits surged over 6% on Tuesday, following its out of court settlement with Kishore Chhabria's ABD over the ownership of the Officers Choice brand. A settlement of legal issues may then open the doors for a deal with Diageo, which will help United Spirits pare its huge debt.
One of the biggest legal battles in the Indian liquor industry may see closure soon. CNBC-TV18 learns that United Spirits (USL) and Kishore Chhabria led Allied Distillers and Breweries may settle their dispute over Officer's Choice out of court.
CNBC-TV18‘s Amrita Panja reports on the Kishore Chhabria-run Allied Blenders & Distillers which has upped the fight with United Spirits by launching semi-premium whisky brand
