Ranveer Singh becomes partner in whiskey maker Allied Blenders share price jump

Whiskey making company Allied Blenders and Distillers has made Bollywood actor Ranveer Singh its partner. The company has informed the stock markets about this in a regulatory filing. After the news came out, the company’s shares are seeing a rise.

The company has stated in its filing that it is forming a joint venture with Ranveer Singh. Allied Blenders and Distillers will have 80 percent stake in the joint venture. The remaining 20 percent stake will be held by Ranveer Singh’s company Oh Five Oh Talent LLP. The joint company will produce, distribute and market luxury and premium spirits of its proprietary brand as well as third party brands.

Will invest 70 crores in joint company

Allied Blenders & Distillers is going to invest up to Rs 70 crore in exchange for 80 percent stake in the combined company. The company says that this will help it expand decision making and market adaptation in the luxury segment while retaining its core brand. The company says that separating mass market and luxury products will increase the value of both.

Alloy Blenders’ business has spread so much

Allied Blenders and Distillers currently has 33 manufacturing plants including 9 bottling units and 1 distillery. The company owns brands like Officer’s Choice Whiskey and Sterling Reserve Premium Whiskey. Apart from whiskey, it also manufactures products like brandy, rum, vodka and gin. The company says that it plans to launch new brands under the JV as well as partner with major international brands.

Stock trading near high level

After the news of forming a new company in partnership with Ranveer Singh came out, the price of Allied Blenders’ shares is seeing a rise. In Thursday’s trade at 1.30 pm, the company’s stock was trading 0.65 percent higher at Rs 351. The share price has now reached its 52-week high of Rs 371.85.

Also read: Another small IPO surrounded by controversies, investors placed bids of Rs 1000 crore in an offer of just Rs 8 crore