13-05-2025
Allied Blenders and Distillers shares rise 4% ahead of board meet to consider fundraise
By Aditya Bhagchandani Published on May 13, 2025, 10:18 IST
Shares of Allied Blenders and Distillers Ltd surged 4.09% to ₹366.50 in Monday's trade, hitting an intraday high of ₹366.60 on the NSE. The rally comes ahead of a key board meeting scheduled for Thursday, May 15, 2025.
The board is set to consider fundraising through multiple routes, including equity shares, convertible securities, warrants, and debentures. The capital may be raised via public issues, rights issues, preferential allotments, private placements, or qualified institutional placements (QIPs), in one or more tranches.
Additionally, the company will announce its audited financial results for the fiscal year ended March 31, 2025.
Allied Blenders and Distillers, India's third-largest spirits company, is known for popular brands such as Officer's Choice Whisky and Sterling Reserve. The company reported a strong performance in Q3 FY25, posting a consolidated net profit of ₹57.47 crore compared to a net loss of ₹4.42 crore in the same period last year. Net sales grew 8.8% year-on-year to ₹973.94 crore.
Investors are optimistic about the upcoming board announcements, driving the stock's positive momentum. The company currently commands a market capitalization of ₹102.35 billion.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
