Mumbai-based Aspri Spirits Limited Files DRHP for IPO

 Mumbai-based Aspri Spirits Limited Files DRHP for IPO

Mumbai, December 12, 2025 – Aspri Spirits Limited, a Mumbai-headquartered powerhouse in the premium alco-beverage sector, has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO). This strategic move highlights the company's entrenched leadership and unwavering commitment to excellence in importing, marketing, and distributing world-class spirits across India and South Asia.

The IPO comprises a fresh issue of equity shares with a face value of ₹5 each, aggregating up to ₹140 crore, alongside an offer for sale of 5,000,000 equity shares by promoters—including Jaikishan Sham Matai, Matai Jackie Sham HUF, Gautam Nandkishore Matai, Arunkumar Venkat Bangalore, Duru Matai, Kajal Matai, and Vrutika Matai—and other selling shareholders such as Parameshwari Narang, Emerald Electronics Private Limited, Pavan Narang, and Whiteline Impex Private Limited. Proceeds from the fresh issue, totaling ₹76 crore, will support the repayment or pre-payment of outstanding borrowings for the company and its subsidiaries—Vinspri Distributors Private Limited, P M Marketing Private Limited, Asdis Drinks India Private Limited, and Aspri Spirits FZE—along with ₹29 crore earmarked for investments in these subsidiaries to address their borrowings, and the balance for general corporate purposes.

Financially, Aspri demonstrates resilient performance and steady expansion. Revenues from operations climbed to ₹460.6 crore in fiscal 2025, marking a solid 22% increase from ₹378.2 crore in fiscal 2024. In the June 2025 quarter, revenues reached ₹119.5 crore, with net profit at ₹9.8 crore, reflecting the company's operational prowess and market traction.

Structured via the book-building process in accordance with SEBI's ICDR Regulations, the issue allocates up to 50% to Qualified Institutional Buyers (QIBs), not less than 15% to Non-Institutional Investors (NIIs), and at least 35% to Retail Individual Investors (RIIs). Aspri, in consultation with book-running lead managers Motilal Investment Advisors Private Limited and Nuvama Wealth Management Limited, may pursue a pre-IPO placement of up to ₹28 crore, which, if undertaken, would accordingly adjust the fresh issue size. Bigshare Services Private Limited serves as the registrar, with equity shares slated for listing on the BSE and NSE.

Founded in 2004, Aspri Spirits stands as India's premier alco-beverage distribution entity, distinguished by its expansive portfolio of 323 brands as of September 30, 2025—the largest in the nation by brand count. With a sophisticated, integrated approach to marketing development and distribution, Aspri serves as the trusted partner for global icons, delivering unparalleled route-to-market solutions that span all major categories, including whiskey, rum, brandy, vodka, gin, wine, beer, and tequila. This robust ecosystem underscores Aspri's pivotal role in elevating premium alco-beverages to discerning consumers, backed by enduring supplier relationships that reflect a negligible attrition rate across fiscal years 2023, 2024, 2025, and the three months ended June 30, 2025.