Globus spirits IPO will close on 2nd september…
Globus Spirits has opened for subscription with an initial public offering (IPO) of Rs 75 crore. Earlier in 2008, it was scheduled to open its IPO with a price band of Rs 135-148 a share, between February 19-22 and planned to raise Rs 68 crore. The company had withdrawn its IPO due to unfavourable market conditions.
•Now, its issue price is fixed between Rs 90-100/share. It will close on September 2, 2009. The market cap of the company will be Rs 198 crore at the upper end of the price band.
•Proceeds available via this issue will be used for installation of multi-pressure distillation plants, expansion of spirit-based starch liquefaction unit; installation of high-pressure boiler; brand development for marketing IMFL brands and revamping of existing storage/bottling capacity.
•Globus Spirits is engaged in the business of manufacture, marketing and sale of industrial alcohol comprising Rectified Spirit and Extra-Neutral Alcohol, Country Liquor, and Indian Made Foreign Liquor (IMFL). The company has brands in Country Liquor segment like Rana, Rajasthan No.1, Ghoomar, Samalkha No.1, Samalkha Ki Saunfi etc; and in IMFL segment such as White Lace Gin, White Lace Vodka, Samurai Gold Extra Rich Blend Whisky, Samurai Premium Whisky, 20-20 Premium Whisky, GR 8 Times Whisky, Hannibal Legendry Rum etc.
•Equity shares are proposed to be listed on the BSE and NSE. SREI Capital Markets Limited is the book running lead manager to the issue and Intime Spectrum Registry is the registrar.
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