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Liquor company brings pandit onstage for stock market debut: ‘It happens only in India’
Allied Blenders and Distillers made its stock market debut in the presence of a pandit (Hindu priest) at the listing ceremony on Tuesday, July 2.
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Allied Blenders and Distillers made its stock market debut in the presence of a pandit (Hindu priest) at the listing ceremony on Tuesday, July 2.
A listing ceremony refers to the event where a company's shares are officially listed and begin trading on the National Stock Exchange of India (NSE). Photos shared on social media show a pandit onstage along with company executives for the lighting of the ceremonial lamp.
However, the irony of a liquor company inviting a pandit to its listing ceremony was not lost on social media.
“Only in India will you see a pundit on stage at a listing ceremony..” wrote an X user named Tanisha on the microblogging platform. “congrats to the ABD team on the stellar listing,” she added.
Take a look at the post below:
“That too for a daru company,” one person pointed out in the comments section. “For a daaru company,” another wrote with a laughing face emoji.
The official X account of Allied Blenders and Distillers also shared a picture from the NSE listing ceremony. “Allied Blenders and Distillers makes its debut on the stock market!” the company captioned the picture
More photos from the ceremony were shared online by the official X account of the NSE.
Shares of Allied Blenders and Distillers Ltd, the maker of Officer's Choice Whisky, listed with a premium of nearly 14 per cent against the issue price of ₹281 on Tuesday.
On the NSE, shares of the company listed at ₹320, registering a jump of 13.87 per cent. The company's market valuation stood at ₹8,869.61 crore.
Some of the major brands of the company include Officer's Choice Whisky, Sterling Reserve Whisky, Jolly Roger Rum, and Class 21 Vodka.
(Also read: Allied Blenders and Distillers shares list at 14% premium over issue price)
(With inputs from PTI)
