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05 Mar, 2026
Alcobrew Distilleries India IPO
The Alcobrew Distilleries India IPO is a book‑built issue comprising a fresh issue worth up to ₹258.26 crore and an offer for sale (OFS) of up to 1.80 crore equity shares. The company filed its DRHP with SEBI on September 25, 2025.
The price band and official dates of subscription and listing will be announced later. The equity shares are expected to be listed on the BSE and NSE platforms. The book-running lead manager (BRLM) is Motilal Oswal Investment Advisors Ltd., and the registrar is KFin Technologies Ltd.
Company Background
Alcobrew Distilleries India Ltd. was incorporated in 2002 and is a significant player in the Indian alcoholic drinks industry. Headquartered in Gurugram, the company has evolved from a contract manufacturing specialist to a branded spirits manufacturer. Its state-of-the-art distillery is located in Derabassi, Punjab, producing whiskies, rums, gins, and vodka. Alcobrew has a footprint in over 20 Indian states and multiple international markets.
Operations and Product Range
The company manufactures, markets, and sells Indian Made Foreign Liquor (IMFL), covering whiskies, vodkas, rums, gins, brandies, and more. It manages over 13 brands across popular, prestige, premium, and luxury segments, including White & Blue Blended Whisky, Golfer's Shot Premium Whisky, White Hills Regular Whisky, and One More Vodka.
Alcobrew also engages in contract manufacturing and licensing, including the licensed manufacture and sale of "Old Smuggler" Scotch and Rum in India on behalf of Davide Campari Milano N.V. Customers include domestic consumers and over 20 international export destinations.
Facilities and Capacity
Alcobrew operates integrated manufacturing units in North India. The main bottling plant is in Dera Bassi, Punjab (operational since 2006). A distillery in Gamber Valley, Solan, Himachal Pradesh (established in 2022) ensures backward integration. Combined, the units have a total bottling capacity of 6.40 million cases per annum.
Brands and Market Presence
Alcobrew has a strong distribution network across India. Market share includes 11.02% in Delhi (volume) and 3.79% in North India whisky market. Internationally, products are exported to over 20 countries including Uganda, UAE, Kenya, and Nepal.
Revenue Streams and Business Model
Revenue primarily comes from domestic sales of IMFL brands, exports, and contract manufacturing/licensing agreements. The business is working capital-intensive due to excise duty payment requirements.
Management and Shareholding
Promoters are Romesh Pandita (Founder & Chairman), Veena Pandita, and the Romesh Pandita Family Trust. Before the IPO, promoters held 100% equity. The OFS in the IPO by Romesh Pandita will dilute promoter ownership post-listing.
Board and Key Management
The board is headed by Romesh Pandita (Chairman & MD), with 44 years of industry experience, assisted by Whole-Time Director Veena Pandita and CA Arvind Kaul for finance and manufacturing. Independent directors include Mukesh Goyal, Susheel Bhat, and Air Marshal Sanjeev Kapoor.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Alcobrew Distilleries India IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Alcobrew Distilleries India IPO Details
| Detail | Description |
|---|---|
| IPO Date | - |
| Listing Date | - |
| Face Value | ₹10 per Equity Share |
| Issue Price Band | - |
| Lot Size | - |
| Sale Type | Fresh Issue and Offer for Sale (OFS) |
| Total Issue Size | Up to 1,80,00,000 Equity Shares + Fresh Issue aggregating up to ₹258.26 Cr |
| Reserved for Market Maker | - |
| Fresh Issue(Ex Market Maker) | Aggregating up to ₹258.26 Cr |
| Offer for Sale | Up to 1,80,00,000 Equity Shares by Romesh Pandita |
| Net Offered to Public | - |
| Issue Type | 100% Book Built Offer |
| Listing At | BSE and NSE |
| Share Holding Pre Issue | 15,40,00,000 shares |
| Share Holding Post Issue | - |
Alcobrew Distilleries India IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | - |
| IPO Close Date | - |
| Tentative Allotment | - |
| Initiation of Refunds | - |
| Credit of Shares to Demat | - |
| Tentative Listing Date | - |
| Cut-off time for UPI mandate confirmation | 5:00 PM on the Bid/Offer Closing Date |
Alcobrew Distilleries India IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | - | ~₹14,000 - ₹15,000 |
| Individual investors (Retail) (Max) | 13-14 | - | Up to ₹2,00,000 |
| S-HNI (Min) | 14-15 | - | Over ₹2,00,000 |
| S-HNI (Max) | 66-70 | - | Up to ₹10,00,000 |
| B-HNI (Min) | 71+ | - | Over ₹10,00,000 |
Alcobrew Distilleries India IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Promoter Holding Pre Issue | 100% |
| Promoter Holding Post Issue | - |
Competitive Strength:
- • A diversified portfolio of over 13 brands in various segments of spirits.
- • Control over both bottling and distillation facilities, thus enjoying backward integration in the supply chain.
- • Strong brand presence and distribution network, particularly in North India, with leading market shares in major states like Delhi.
- • Presence in over 20 countries, thus expanding its revenue base.
Alcobrew Distilleries India IPO Financial Information
| Period Ended | Assets | Total Income | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing | ||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fiscal 2025 | 580.46 | 1,620.35 | 69.45 | 324.10 | 247.10 | 129.86 | ||||||||||||||||||||||||||||||||||
| Fiscal 2024 | 532.08 | 1,644.56 | 62.55 | 254.78 | 177.78 | 148.32 | ||||||||||||||||||||||||||||||||||
| Fiscal 2023 | 445.56 | 1,220.95 | 52.30 | 192.31 | 115.31 | 133.55 | ||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 23.99% |
| ROCE | 24.80% |
| Debt/Equity | - |
| RoNW | 23.99% |
| PAT Margin | 8.76% |
| EBITDA Margin | 15.21% |
| Price to Book Value | - |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.50 | [.] |
| P/E (x) | [.] | [.] |
IPO Objectives
The company plans to use the IPO proceeds for:
- • Repayment of debt (outstanding/prepaid)
- • Capital expenditure for visitor centre construction and new maturation hall in Solan, Himachal Pradesh
- • Investment in marketing to expand scalability and credibility
- • General corporate purposes
Conclusion
The Alcobrew Distilleries India IPO offers investors a chance to participate in a well-established player in the Indian branded spirits industry. With a diverse brand portfolio, integrated manufacturing, and both domestic and export operations, the company is positioned for growth, using the IPO proceeds for debt reduction and the next phase of expansion.
IPO DRHP Status
| # | Description | Date | File |
|---|---|---|---|
| 1 | Filed with SEBI/Exchange | 25-09-2025 | View DRHP |
| 2 | SEBI/Exchange approval received | 08-01-2026 | - |
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Frequently Asked Questions (FAQs)
-
What is the face value of Alcobrew Distilleries India Ltd. shares?
The face value of each equity share of Alcobrew Distilleries India Limited is ₹10.
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Who can apply for the Alcobrew Distilleries India IPO and what is the reservation?
reservations: up to 50% for Qualified Institutional Buyers (QIBs), at least 15% for Non-Institutional Investors (NIIs/HNIs) and at least 35% for Retail Individual Investors (RIIs).
-
What has been Alcobrew Distilleries India Ltd.'s recent financial performance?
For FY25, the company reported a revenue of ₹1,615 crore and a profit after tax (PAT) of ₹69.45 crore.
-
Who is the lead manager and registrar for the Alcobrew Distilleries India IPO issue?
The book-running lead manager to the issue is Motilal Oswal Investment Advisors Ltd. and the registrar to the issue is KFin Technologies Ltd.
-
What is the total issue size of the Alcobrew Distilleries India IPO?
The total issue size includes a fresh issue worth up to ₹258.26 crore and an offer for sale (OFS) of up to 1.80 crore equity shares.
