Whisky-making company Allied Blenders & Distillers has partnered with Bollywood actor Ranveer Singh. The company announced this in a regulatory filing to the stock markets. After the news, the company’s shares have seen a rise.
The filing reveals that Allied Blenders & Distillers is forming a joint venture with Ranveer Singh. In this joint venture, Allied Blenders & Distillers will hold 80% of the shares, while 20% will be owned by Ranveer Singh’s company, Oh Five Oh Talent LLP. The new company will produce, distribute, and market both luxury and premium spirits under its own brands and third-party brands.
Investment in the Joint Venture
Allied Blenders & Distillers will invest up to ₹70 crore for its 80% share in the joint venture. The company believes this will help expand decision-making and market adaptation in the luxury segment while maintaining its core brand. Separating mass-market and luxury products is expected to increase the value of both.
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Allied Blenders’ Current Business
Allied Blenders & Distillers currently operates 9 bottling units and 1 distillery among its 33 manufacturing plants. The company owns brands like Officer’s Choice Whisky and Sterling Reserve Premium Whisky. In addition to whisky, it also produces brandy, rum, vodka, and gin. The company plans to launch new brands and partner with major international brands under the joint venture.
Share Price Trends
Following the announcement of the partnership with Ranveer Singh, Allied Blenders’ shares have risen. On Thursday, around 1:30 PM, the company’s share price increased by 0.65% to over ₹351. The share price is nearing its 52-week high of ₹371.85.
