Tilaknagar Industries rallies on merger buzz with Allied Blenders & Distillers (ABD), Latest stock price

Tilaknagar Industries rallies on merger buzz with Allied Blenders & Distillers (ABD), Latest stock price



Tilaknagar Industries has rallied 11% to Rs 63.90 on buzz of merger of Allied Blenders & Distillers (ABD) with itself. ABD owns the top selling Indian whiskey brand Officer's Choice.

“Liquor baron Kishore Chhabria's ABD, India’s third largest distiller, is discussing a merger deal with rival Tilaknagar Industries, makers of Mansion House brandy,”

Chhabria would be the majority shareholder, while Tilaknagar chairman Amit Dahanukar will retain a sizable minority interest in the joint company, added report.

Chhabria has 95% stake in ABD, while the Dahanukar family controls 56% stake in Tilaknagar Industries.

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