The IPO comprises a fresh issue of equity shares with a face value of Rs5 each, aggregating up to Rs140 crore, alongside an offer for sale of 5,000,000 equity shares by promoters
FinTech BizNews Service
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 Rs5 each, aggregating up to Rs140 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 Rs76 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 Rs29 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 Rs460.6 crore in fiscal 2025, marking a solid 22% increase from Rs378.2 crore in fiscal 2024. In the June 2025 quarter, revenues reached Rs119.5 crore, with net profit at Rs9.8 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 Rs28 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.
In a sector experiencing remarkable vitality—India's alcohol market reached a valuation of USD 200 billion in 2025, with the overall alcoholic drinks segment posting an impressive 11% compound annual growth rate from 2025 to 2033, and spirits alone surging at 6.8% to approximate USD 64 billion—Aspri's focus on luxury and premium segments positions it at the forefront of this dynamic landscape. The company commands dominant market shares, including a commanding 57% in liqueur imports, a top-three ranking in wine imports, and a top-five position in total imported beverages in fiscal 2025, complemented by its status as the largest importer of BIO wines by volume that year (Source: The Knowledge Company Report). Aspri's premium orientation shines through with an average net realization per case of Rs17,666 in fiscal 2025—far exceeding the industry average of Rs1,000 to Rs2,000—affirming its unmatched value proposition in India's thriving premium alco-beverage arena (Source: The Knowledge Company Report).
Aspri's illustrious portfolio features 323 brands from 89 suppliers across 835 stock-keeping units (SKUs) and 36 countries, encompassing timeless legacies like Whyte & Mackay and The Dalmore (Scotch whisky), Camus (cognac), Molinari (sambuca), Beluga (vodka), Black Tower (still wine), Henkell (sparkling wine), and Amarula (liqueur). Exclusive partnerships further amplify its prestige, including arrangements with Bunnahabhain, Beluga Vodka, Evan Williams Bourbon, M. Chapoutier, Mateus Rosé, Meukow Cognacs, and Zonin Wines.
Complementing these global treasures, Aspri's proprietary lineup—such as Barrhead’s, Dos Flamos, U’Luvka, Baronet, Born West, Bush Ballad, Casa El Unico, Golden Sparrow, Monte Pacifico, and What The Fox—adds a distinctive flair, blending innovation with heritage.
Operationally, Aspri's footprint is expansive and efficient, spanning 28 states and union territories with coverage of over 17,000 outlets as of September 30, 2025. A dedicated team of 168 sales and marketing professionals, bolstered by specialized compliance units and state-of-the-art warehousing, ensures seamless execution.
The company nurtures relationships with more than 1,800 customers across institutional, retail, hospitality, and travel retail channels, including state corporations, luxury hotel chains, upscale bars and restaurants, and duty-free outlets. This multifaceted network extends beyond India to key South Asian markets like Sri Lanka, Bhutan, and Nepal, as well as the UAE, Poland, and the Maldives, showcasing Aspri's global acumen.
Aspri Spirits Limited's filing exemplifies its solid foundation, market dominance, and dedication to premium excellence, reinforcing its stature as a cornerstone of India's vibrant alco-beverage ecosystem.
About Aspri Spirits Limited Aspri Spirits Limited, established in 2004, is India's leading integrated marketing, development, and distribution partner for premium international alco-beverages, with an unmatched portfolio and nationwide reach.
