The Abu Dhabi Investment Authority (ADIA) has made a substantial investment in Allied Blenders and Distillers, a leading Indian spirits manufacturer, shortly after participating in the company’s initial public offering on the National Stock Exchange of India.
ADIA acquired over 1.5M shares in the firm for a total of INR 977M, equivalent to $10M, according to bourse data.
SBI Mutual Fund, a prominent private asset management company, also purchased 3.4M shares of Allied Blenders at a price of INR650 each. The company is well-known for its popular brands, including Officer’s Choice Whisky, Sterling Reserve Premium Whiskies, and Iconiq White Whisky.
ADIA’s involvement in the Indian market is significant as it stands among the largest sovereign investors in the country, frequently anchoring high-profile initial public offerings such as those of stockbroker Groww and renewable energy firm Clean Max Enviro Energy Solutions.
The wealth fund has invested in the National Investment and Infrastructure Fund: a government-backed initiative focused on substantial infrastructure development.
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