Indian spirits maker Allied Blenders and Distillers Ltd, maker of Officer's Choice Whisky, receives SEBI approval for a ₹1,500 crore IPO.

Indian spirits maker Allied Blenders and Distillers Ltd, maker of Officer's Choice Whisky, has received approval from SEBI to raise ₹1,500 crore through an IPO. The IPO, consisting of a fresh issue of ₹1,000 crore and an offer for sale of up to ₹500 crore by its promoters, will be used for debt repayment and general corporate purposes. The company has a market share of over 8% in the Indian-made foreign liquor market.