This liquor company will issue new shares worth ₹140 crore
Upcoming IPO: The stock market may soon see the entry of another liquor company. Mumbai-based alcoholic beverage distribution company Aspri Spirits has filed an application with market regulator SEBI for its initial public offering (IPO). The company plans to raise ₹140 crore through the issuance of new shares in this IPO.
In addition, 50 lakh shares will be offered for sale by the company’s existing shareholders and promoters. The company is also considering raising ₹28 crore in a pre-IPO round before the IPO, which would be part of the fresh issue.
About the company: Aspri Spirits was founded by Jaykishan Shyam Matai and Arunkumar Venkat Bangalore. The company describes itself as India’s largest alcoholic beverage distributor. Its portfolio includes a total of 323 brands. These include international brands such as Scotch whisky brands like Whyte & Mackay and Dalmore, Camus cognac, Molinari Sambuca, Beluga vodka, Black Tower still wine, Henkell sparkling wine, and Amarula liqueur.
The company claims to maintain a leading position in the premium alcoholic beverage segment and has a market share of approximately 57% in the imported liquor sector. The company stated that it will use ₹105 crore of the funds raised through the issuance of new shares in the IPO to repay a portion of its outstanding debt of ₹127 crore (due by November 2025), while the remaining amount will be used for general business purposes.
