Awaiting price reaction for this filing.
Allied Blenders and Distillers (ABDL) has filed the final Monitoring Agency Report from Crisil Ratings for the quarter ended March 31, 2025, covering its June 2024 IPO of Rs 15,000 million (Rs 10,000 million fresh issue + Rs 5,000 million Offer for Sale). After deducting Rs 585.30 million in issue expenses, net proceeds of Rs 9,414.70 million have been fully utilized. Rs 7,200 million was used for prepayment/repayment of outstanding borrowings, and Rs 2,214.70 million went to general corporate purposes. The Monitoring Agency confirmed no deviation from the objects stated in the offer document, and both the public offer account and monitoring account balances stand at Nil, marking the close of IPO fund monitoring.
Full and timely utilization of IPO proceeds with no deviations is a positive signal for shareholders. The Rs 7,200 million debt prepayment should reduce interest costs and strengthen the balance sheet, while remaining funds support general business needs. This closes the post-listing monitoring requirement, removing an overhang for the stock.