Aspri Spirits Ltd, a prominent importer and distributor of premium alcoholic beverage brands, has submitted a draft red herring prospectus to the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).
Issue Size
The proposed IPO includes a fresh issue of equity shares with a face value of ₹5 each, amounting to a total of ₹140 crore. Additionally, there is an offer for sale of 5,000,000 equity shares by various promoters, including Jaikishan Sham Matai, Matai Jackie Sham HUF, Gautam Nandkishore Matai, Arunkumar Venkat Bangalore, Duru Matai, Kajal Matai, and Vrutika Matai. The offering also involves other selling shareholders such as Parameshwari Narang, Emerald Electronics Pvt Ltd, Pavan Narang, and Whiteline Impex Pvt Ltd.
The company is also considering a pre-IPO placement of up to ₹28 crore, which may decrease the size of the fresh issue. Motilal Investment Advisors and Nuvama Wealth Management are serving as book-running lead managers for this IPO, with plans for the shares to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Use of Funds
The funds raised from the fresh issue will be allocated as follows: ₹76 crore will be used to repay or pre-pay borrowings across Aspri Spirits and its subsidiaries. Additionally, ₹29 crore is earmarked for further investments into these subsidiaries to mitigate their debt, while the remaining funds will be utilized for general corporate purposes.
Aspri Spirits has demonstrated strong financial performance, with revenue from operations increasing to ₹460.6 crore in FY25, reflecting a 22% rise from ₹378.2 crore in FY24. The June 2025 quarter reported a revenue of ₹119.5 crore and a net profit of ₹9.8 crore. The IPO will follow the book-building process, with allocations designated for qualified institutional buyers (QIBs), non-institutional investors (NIIs), and retail investors in accordance with SEBI regulations.
Founded in 2004, Aspri Spirits has established itself as one of India’s leading alcoholic beverage distributors, showcasing an extensive portfolio of 323 brands as of September 30, 2025, positioning it as the largest distributor by brand count in the country. The diverse range spans 323 brands sourced from 89 suppliers, encompassing 835 stock-keeping units (SKUs) across 36 countries. Notable brands in its collection include Whyte & Mackay and The Dalmore in Scotch whisky, Camus in cognac, Molinari in sambuca, Beluga in vodka, Black Tower in still wine, Henkell in sparkling wine, and Amarula in liqueur.
Published on December 12, 2025
