The initial public offering of Allied Blenders and Distillers was subscribed 23.36 times on the final day of bidding, with investors bidding for 91.98 crore equity shares against the offer size of 3.93 crore shares, according to exchange data.

The Officer's Choice whisky maker intends to raise Rs 1,500 crore through its public issue which consists of a fresh issuance of shares worth Rs 1,000 crore, and an offer-for-sale (OFS) of shares worth Rs 500 crore by promoters.

Non-institutional investors led the support for the issue, purchasing 32.25 times their allotted portion. Qualified institutional buyers bid 50.37 times their reserved portion, while retail investors subscribed to 4.21 times their allocated shares.

Employees bought 9.31 times the portion set aside for them. They will get those shares at a discount of Rs 26 per share to the final issue price.

Allied Blenders has already mopped up Rs 499.1 crore through its anchor book on June 24. Societe Generale, Goldman Sachs, Troo Capital, BNP Paribas, 360 One Special Opportunities Fund, LIC Mutual Fund, and Jupiter India were amongst investors in the anchor book.

The Maharashtra-based liquor maker is going to utilise net fresh issue proceeds mainly for repaying debts, besides general corporate purposes.