The <keyword id="20478869" type="General" weightage="20" keywordseo="Initial-Public-Offer" source="keywords">initial public offer</keyword> of <keyword id="1469523" type="General" weightage="100" keywordseo="Allied-Blenders-and-Distillers" source="Orion">Allied Blenders and Distillers</keyword>, the maker of <keyword id="20067872" type="General" weightage="20" keywordseo="Officers-Choice-Whisky" source="keywords">Officer's Choice Whisky</keyword>, received 51% subscription on the first day of bidding. The Rs 1,500-crore initial share sale received bids for 2,01,69,680 shares against 3,93,71,669 shares on offer, as per NSE data. The category for <keyword id="706105" type="General" weightage="20" keywordseo="non-institutional-investors" source="Orion">non-institutional investors</keyword> received 87% subscription while the retail individual investors (RIIs) part got subscribed 63%. The Qualified Institutional Buyers (QIBs) portion received 2% subscription. The Initial Public Offer (<keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>) has a fresh issue of up to Rs 1,000 crore and an offer for sale of up to Rs 500 crore. The initial share sale has a price range of Rs 267-281 per share. <keyword id="20258893" type="General" weightage="20" keywordseo="Allied-Blenders" source="keywords">Allied Blenders</keyword> and Distillers Ltd also announced that it has raised Rs 449 crore from anchor investors. <cmsannotation type="cmsannotation" annotationid="Lion's share in Indian-made foreign liquor" comment="subhead" text="Lion's share in Indian-made foreign liquor">Lion's share in Indian-made foreign liquor</cmsannotation> Proceeds from the fresh issue worth Rs 720 crore will be used for payment of debt, and a portion will be used for general corporate purposes. With a market share of over 8% in the Indian-Made Foreign Liquor (<keyword id="20485471" type="General" weightage="20" keywordseo="IMFL" source="keywords">IMFL</keyword>) market by sales volumes in fiscal 2023, Allied Blenders and Distillers is engaged in the manufacturing, marketing and sale of alcoholic beverages in India and abroad. The product portfolio of the firm comprises several brands of IMFL in whisky, brandy, rum and vodka. Some of the major brands of the company include Officer's Choice Whisky, <keyword id="14551555" type="General" weightage="20" keywordseo="Sterling-Reserve-Whisky" source="Orion">Sterling Reserve Whisky</keyword>, Jolly Roger Rum and <keyword id="1469526" type="General" weightage="20" keywordseo="Class-21-Vodka" source="Orion">Class 21 Vodka</keyword>. ICICI Securities, Nuvama Wealth Management Limited (formerly known as Edelweiss Securities Limited) and ITI Capital are the book running lead managers to the offer. The equity shares of the company are proposed to be listed on the BSE and NSE.

Officer's Choice whisky maker Allied Blenders' IPO subscribed 51% on 1st day of IPO

The initial public offer (IPO) of <keyword id="1469523" type="General" weightage="100" keywordseo="Allied-Blenders-and-Distillers" source="Orion">Allied Blenders and Distillers</keyword>, which popularly manufactures <keyword id="22200942" type="General" weightage="20" keywordseo="Officers-Choice-whiskey" source="keywords">Officer’s Choice whiskey</keyword>, is set to close today. The company aims to raise around Rs 1,500 crore from anchor, institutional and retail investors combined, with its share priced between Rs 267-281. Allotment of shares to successful investors will take place by 1st July, while the listing is set for 2nd July, 2024. Retail investors can invest a minimum of Rs 14,893 and a maximum of Rs 1,93,609 in this issue. If you are mulling whether or not to invest in this IPO, here’s all you need to know about it: <cmsannotation type="cmsannotation" annotationid="About Allied Blenders and Distillers" comment="subhead" text="About Allied Blenders and Distillers">About Allied Blenders and Distillers</cmsannotation> Allied Blenders is the largest home-grown brand and a leading exporter, when it comes to <keyword id="20830317" type="General" weightage="20" keywordseo="Indian-made-foreign-liquor" source="keywords">Indian-made foreign liquor</keyword>, also known as <keyword id="20485471" type="General" weightage="20" keywordseo="IMFL" source="keywords">IMFL</keyword>. Between FY14 and FY22, the company’s annual sales volume ranked third in the country. And as of FY23, Allied Blenders commands about 11.8% share in the Indian whiskey market. Their most famous offering, the Officer’s Choice whiskey, was launched in 1988. Amongst its other products are <keyword id="21862256" type="General" weightage="20" keywordseo="sterling-reserve" source="keywords">Sterling Reserve</keyword>, <keyword id="22200943" type="General" weightage="20" keywordseo="officers-choice-blue-and-iconiq-whisky" source="Orion">Officer’s Choice Blue and ICONiQ Whisky</keyword>. As of December 31st, 2023, the company had earned a net profit of Rs 4.2 crore. The company wants to raise funds in order to repay, and prepay some of its loans, and for other general corporate purposes as well. While the company is well-placed within the IMFL segment and has a strong, pan-India distribution network, it has its own share of risks as well. <cmsannotation type="cmsannotation" annotationid="What are the risks?" comment="subhead" text="What are the risks?">What are the risks?</cmsannotation> The company is excessively reliant on sales of its whiskey products, and particularly that of Officer’s choice. As of December 31, 2023, the company’s total revenue from all its products was Rs 5,751.29 crores. Out of this, revenue exclusively from its whiskey offerings stood at a staggering Rs 5,575.82 crores, or 94.33%. Sales of brandy products brought in 123.34 crores, while rum and vodka earned around Rs 43 crore and Rs 4 crore, respectively. Not just whiskey, their heavy reliance on the Officer’s Choice brand can also spell trouble in the future, if the brand name is adversely affected in any manner. As of December 2023, 73.02% of the company’s total sales stemmed from Officer’s Choice. Other than that, its promoters are also engaged in similar businesses, which could mean loss of potential opportunities for the company. Moreover, most of the company’s revenue stems from just3 states, namely <keyword id="6357713" type="General" weightage="20" keywordseo="uttar-pradesh" source="Orion">Uttar Pradesh</keyword>, <keyword id="22200944" type="General" weightage="20" keywordseo="telangana-and-west-bengal" source="Orion">Telangana and West Bengal</keyword>. Such significant concentrations in almost every domain leave the company very vulnerable to all kinds of risks. The company owns and operates nine bottling units, while being in a non-exclusive agreement with 18 others. This makes it heavily reliant on third-party bottling facilities. At present, Allied Blenders is embroiled in 31 trademark infringement cases, which means it will direct a significant amount of revenue towards meeting legal fees, not to mention the financial costs, should it lose a case. In comparison to its peers, <keyword id="160498" type="General" weightage="20" keywordseo="United-Spirits-limited" source="Orion">United Spirits limited</keyword>, whose annual income in FY23 stood at Rs 27,888.5 crore, and <keyword id="61385" type="General" weightage="20" keywordseo="Radico-Khaitan" source="Orion">Radico Khaitan</keyword> Ltd, which earned Rs 12,753 crores, its annual income was far lower, at Rs 7,116 crores. <cmsannotation type="cmsannotation" annotationid="What are the experts saying?" comment="subhead" text="What are the experts saying?">What are the experts saying? </cmsannotation>It's a mixed bag, but experts are advising staying away from the issue. As per stock analyst Dilip Dawda, “based on the company’s annualized FY24 earnings, the issue appears aggressively priced. While the management is hopeful that it will level its net profit margins with its listed peers within 2 years, it appears to be a long-term story. There is no harm in skipping this exorbitantly priced bet". On the other hand, Mastertrust broking and investments advise subscribing to the IPO, but from a long-term view. Per them, “the company is looking to raise Rs 1,000 crore from the public, most of which will be utilized to pare down the debt and the company will then become almost debt free. This will result in massive cost savings for the company, as they pay a significant amount in interest costs. The IPO is priced at a lower valuation relative to its listed peers. Hence, we advise subscribing to the IPO keeping a long term view".

Allied Blenders and Distillers IPO : Should you subscribe? Know all about it here

Allied Blenders and Distillers Ltd, the maker of Officer's Choice whisky, on Thursday fixed a <keyword id="19911460" type="General" weightage="20" keywordseo="price-band" source="keywords">price band</keyword> of Rs 267 to Rs 281 per share for its Rs 1,500-crore <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword> (IPO). The initial share-sale will open for public during June 25-27 and the bidding for anchor investors will open for a day on June 24, the company announced. Broking firms have pegged the company's <keyword id="20000950" type="General" weightage="20" keywordseo="market-capitalisation" source="keywords">market capitalisation</keyword> to Rs 7,860 crore post-issue. The initial share-sale comprises fresh issuance of equity shares worth Rs 1,000 crore and an Offer-for-Sale (OFS) of shares to the tune of Rs 500 crore by promoters. As a part of the OFS, Bina Kishore Chhabria, Resham Chhabria Jeetendra Hemdev and Neesha Kishore Chhabria will sell shares. Proceeds from the fresh issue worth Rs 720 crore will be used for the payment of debt. Besides, a portion will be used for general corporate purposes. The total debt on the the company's books was around Rs 808 crore as of December 2023. Half of the issue size has been reserved for qualified institutional investors, 35 per cent for retail investors and the remaining 10 per cent for non-institutional investors. Further, investors can bid for 53 shares and in multiples thereof. With a market share of over 8 per cent in <keyword id="20830317" type="General" weightage="20" keywordseo="Indian-Made-Foreign-Liquor" source="keywords">Indian-Made Foreign Liquor</keyword> (IMFL) market by sales volumes in fiscal 2023, Allied Blenders and Distillers is engaged in the manufacturing, marketing and sale of alcoholic beverages in India and abroad. The product portfolio of the firm comprises several brands of IMFL across whisky, brandy, rum and vodka. Some of the major brands of the company include Officer's Choice whisky, Sterling Reserve whisky, Jolly Roger rum and Class 21 vodka. ICICI Securities Ltd, Nuvama Wealth Management Ltd, and ITI Capital Ltd are the book running lead managers to the issue. The equity shares of the company are proposed to be listed on the BSE and NSE. SEE ALSO:<a href="https://www.businessinsider.in/business/webstories/nvidia-dethrones-microsoft-to-become-the-worlds-most-valuable-company/slidelist/111102218.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/webstories/nvidia-dethrones-microsoft-to-become-the-worlds-most-valuable-company/slidelist/111102218.cms" target="_blank">As Nvidia dethrones Microsoft, check out the world's top 10 most valuable companies</a><a href="https://www.businessinsider.in/stock-market/news/hyundai-motor-india-files-draft-papers-with-sebi-for-indias-biggest-ipo/articleshow/111014559.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/hyundai-motor-india-files-draft-papers-with-sebi-for-indias-biggest-ipo/articleshow/111014559.cms" target="_blank">Hyundai Motor India files draft papers with SEBI for India’s biggest IPO</a><a href="https://www.businessinsider.in/tech/mobile/news/tata-group-reportedly-looking-to-acquire-a-majority-stake-in-vivo-india/articleshow/110987274.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/tata-group-reportedly-looking-to-acquire-a-majority-stake-in-vivo-india/articleshow/110987274.cms" target="_blank">Tata Group reportedly looking to acquire a majority stake in Vivo India</a>

Whisky maker Allied Blenders IPO to open on June 25 as it looks to raise ₹1,500 crore

<ul><li><keyword id="4080293" type="General" weightage="20" keywordseo="Allied-Blenders-Distillers" source="Orion">Allied Blenders &amp; Distillers</keyword> has filed draft papers with SEBI to raise ₹2,000 crore from the public.</li><li>It consists of a fresh issue of ₹1,000 crore and an offer for sale by promoters of shares worth ₹1,000 crore.</li><li>Some amount of the IPO money will be used to repay debt and rest will be for general corporate purposes.</li></ul>Allied Blenders and Distillers, an Indian spirits company and maker of alcohol products like <keyword id="483085" type="General" weightage="20" keywordseo="officers-choice" source="Orion">Officer's Choice</keyword> Whisky, Sterling Reserve, Officer’s Choice Blue and others, has filed a DRHP with the markets regulator SEBI for a ₹2,000 crore IPO. The company sells alcoholic beverages in India and abroad with a wide range like whiskey, rum, brandy and vodka across 29 countries. It owns nine bottling units, one distilling facility and over 22 outsourced manufacturing sites. It faces competition from listed companies like United Spirits and Radico Khaitan that have a strong hold over the market. Lockdown induced due to Covid-19 pandemic has left a huge scar on the company’s operations. Its distillery and bottling facilities were temporarily closed for several weeks during lockdown in the months of March and April 2020, leading to dip in sales volumes since then. Besides, the national lockdown mandated by the government also resulted in complete ban on the sale of alcohol in India, which significantly impacted its business, inventories and cash flows in 2020. The total cases sold by the company declined from 33.23 million cases in FY20 to 25.52 million cases in FY21. Moreover, the company is in a competitive market wherein marketing and pricing by its competitors also impacts its sales. “Sales of our products could also be adversely affected by other factors, including increases in excise taxes, supply, production or distribution changes / interruptions, marketing or pricing actions by one or more of our competitors, changes in consumer preferences or other factors. Any such adverse development could result in significant loss which would materially and adversely affect our business, profitability and reputation,” said the firm in its DRHP. As on December 31, 2021, the total outstanding borrowings of the company stood at ₹926 crore. All these uncertainties hit by the pandemic reduced its profitability of the company by a large amount. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,378 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2.5 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8,119 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12.7 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8,934 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹15.2 crore </td></tr></tbody></table>In fact, its advertisement and promotion expenses also came down to ₹90 crore in FY21 from ₹168 crore in FY19. However it has high hopes of a rising population of the eligible age group required for consuming alcohol. The market for alcohol beverages in India is estimated to grow at 3.8% by volume between 2021 to 2025 as approximately 10-12 million people join the drinking population every year. Key players and their volume trends <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Players </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Volume in FY21 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">United Spirits </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">70.7 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pernod Ricard India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">55 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Allied Blender and Distillers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25.5 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Radico Khaitan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">22.3 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">John Distilleries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.8 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tilaknagar Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.4 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jagatjit Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.7 million </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/it-could-be-slowflation-not-stagflation-and-its-better-for-the-equity-markets/articleshow/92567106.cms">It could be slowflation not stagflation – and it’s better for the equity markets</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/startups-like-unacademy-vedantu-blue-stone-caratlane-go-physical-from-digital-as-pandemic-boom-ends/articleshow/92564319.cms">Startups go physical from digital as pandemic boom ends</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/indian-credit-card-users-spend-40x-more-than-debit-card-users-online/articleshow/92543305.cms">Indian credit card users spend 40x more than debit card users online</a>

Officer’s Choice maker files for a ₹2,000 cr IPO banking on more people hitting alcohol eligible age

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/57db9c4add0895ef608b4875-1245/8380564360_d29e3e00b5_o.jpg" alt="Skara Brae, Scotland" data-mce-source="Flickr/ Dorli Photography" data-link="https://www.flickr.com/photos/dorlino/8380564360" /><a href="https://www.flickr.com/photos/dorlino/8380564360">Flickr/ Dorli Photography</a></div></div></div>There is a bright spot in the Scottish economy and it's threatened by Brexit.The Scotch Whisky Association (SWA) revealed that whisky exports rose by 3.1% in the first six months of the year - <a href="http://www.scotch-whisky.org.uk/news-publications/news/volume-of-scotch-exports-grow-in-first-half-of-2016/#.V9uR1JMrKGQ">the first increase since 2013.</a>Whisky is the second largest export for Scotland after oil and gas and the industry uses the <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword> Trade and Investment (UKTI) to promote the spirit from 270 diplomatic posts across the globe. The increase in exports will be seen as a boon for the country as the economy is suffering due to low oil prices. Oil accounts for two-thirds of the country's profits and a large slice of employment in Scotland. If the price falls, so does revenue and the health of the country's balance sheet.Oil prices fell to low double digits from over $100 per barrel in June 2014. Oil prices are still struggling to stay above $50 per barrel. Meanwhile, North Sea oil reserves are drying up.<h2>While being an EU member is massively important to Scotland</h2><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><img src="https://static-ssl.businessinsider.com/image/5773d906dd089578548b492f-2010/rtr2wum9.jpg" alt="James Wallace wears a kilt as he stands outside the entrance to Edinburgh castle in Scotland January 25, 2012. Scotland's nationalist leader Alex Salmond marked Burns Night on Wednesday, when Scots toast their national poet, by unveiling his plans for an independence referendum in defiance of British government proposals. REUTERS/David Moir (BRITAIN - Tags: POLITICS)" data-mce-source="REUTERS/David Moir" data-mce-caption="A Scotsman campaigning for a referendum on Scottish independence back in 2012." data-link="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;VBID=2C0BXZER50QCO&amp;SMLS=1&amp;RW=1644&amp;RH=883#/SearchResult&amp;VBID=2C0BXZER50QCO&amp;SMLS=1&amp;RW=1644&amp;RH=883&amp;PN=2&amp;POPUPPN=66&amp;POPUPIID=2C04080RRYFQ5" /><a href="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;VBID=2C0BXZER50QCO&amp;SMLS=1&amp;RW=1644&amp;RH=883#/SearchResult&amp;VBID=2C0BXZER50QCO&amp;SMLS=1&amp;RW=1644&amp;RH=883&amp;PN=2&amp;POPUPPN=66&amp;POPUPIID=2C04080RRYFQ5">REUTERS/David Moir</a>A Scotsman campaigning for a referendum on Scottish independence back in 2012.</div></div></div>But while whisky seems to be a saving grace for Scotland's economy at the moment, it looks like Brexit will soon hurt this sector significantly.Already, according to SWA data, while the volume of whisky exports increased, the value fell to £1.7 billion, from £1.71 billion from the same period the previous year. In other words, more is being shipped but at a cheaper price.On top of that, the figures cover only one week of the period after the European Union referendum vote on June 23.While it is unknown what Britain's exit from the EU will look like - in terms of taxation, trading conditions, and other issues - the SWA says it could pose a massive problem for trading in the future. Even though it will benefit from a short-term boost from a weak sterling."It is clear, however, that the uncertainties of the Brexit vote will create challenges for exporters and we continue to encourage early clarity on the likely shape of the UK's future trading relationship with the EU and other countries. We are working closely with our members and government to ensure the industry's trade priorities are well understood, to promote open markets, and to identify opportunities to grow our exports in the future," said David Frost, Scotch Whisky Association chief executive.<a href="http://www.scotch-whisky.org.uk/news-publications/news/stable-overseas-demand-for-scotch-whisky-in-2013/#.V9uVAJMrKGQ">Back in 2014, the SWA warned that leaving the European Union could pose a huge threat to Scotland's whisky industry.</a> This was because there was no clarity over whether Scotland would retain its membership in the EU if it decided to become independent from the UK.39% of Scotch whisky exports by volume goes to the EU, so Brexit could significantly hurt the industry.Already, Scotland is in a fix - it is on the brink of self-inflicting £1.6 billion in budget cuts over the next five years, according to new data from the <a href="https://www.sbs.strath.ac.uk/economics/fraser/20160913/ScotlandsBudget-2016.pdf">research unit F</a><a href="https://www.sbs.strath.ac.uk/economics/fraser/20160913/ScotlandsBudget-2016.pdf">raser of Allander Institute (FAI)</a>.Scotland's newly devolved tax powers mean it is increasingly reliant on its own economy, rather than handouts from Westminster. But the Scottish economy is projected to perform so badly that the government may need to cut 17% from some government budgets to balance its books. With Brexit now potentially hurting its second largest export sector - things are not looking great for Scotland's economy. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/bank-of-england-new-5-note-2016-9">The Bank of England just released the new £5 note - here's how it compares to the old one</a></h3> <div> <div> <script src="http://player.ooyala.com/v3/6e12e8b3387a44daacfb73afba25a76e"></script> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="0xc3N1NTE6FXb5aTf7SqtgcmCZ-VjFCd" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> <script> if (typeof RunFunctions === 'undefined') { var RunFunctions = []; } RunFunctions.push(function() { var ooyalapopvideo = OO.Player.create('ooyalaplayer_popvideo', '0xc3N1NTE6FXb5aTf7SqtgcmCZ-VjFCd',{ autoplay: 'false' }); }); </script> <noscript><div>Please enable Javascript to watch this video</div></noscript></div> </div> <script>(function() { function createPlayer() { OO.ready(function() { RunFunctions.forEach(function(ooyalaFunction) { ooyalaFunction(); }); RunFunctions = [];}); } createPlayer(); }()); </script> </div>

You Searched For "Sterling Reserve Whisky" and got 5 results

Officer's Choice whisky maker Allied Blenders' IPO subscribed 51% on 1st day of IPO

PTI

Allied Blenders and Distillers IPO : Should you subscribe? Know all about it here

Ira Alok Puranik

Whisky maker Allied Blenders IPO to open on June 25 as it looks to raise ₹1,500 crore

PTI

Officer’s Choice maker files for a ₹2,000 cr IPO banking on more people hitting alcohol eligible age

Bhakti Makwana

Brexit threatens the only bright spot in the Scottish economy right now

Lianna Brinded