MUMBAI: Delhi-based alcohol beverage company, Globus Spirits Ltd proposes to enter the capital market with an initial offer of Rs 68 crore through the book building route. The company has filed papers with the Securities and Exchange Board of India.
The company has been assigned ‘CARE IPO Grade 3’ by Credit Analysis & Research.
Globus Spirits is engaged in manufacture, marketing and sale of Indian made foreign liquor, industrial alcohol (comprising rectified spirit and extra-neutral alcohol) and country liquor.
The company has already launched its own IMFL brands in Haryana, Chandigarh and Uttar Pradesh and proposes to launch the brands in three more states in North India. Globus is also planning to expand in the south, after its Kerala launch.
The company proposes to modernise and expand facilities at Behror, Rajasthan and Samalkha, Haryana; develop and acquire IMFL brands; and revamp its storage and bottling capacity.
Globus Spirits also plans to install multi-pressure distillation plants to produce 35,000 litres each of extra neutral alcohol from both molasses and grain at Behror in Rajasthan and from grain at Samalkha in Haryana.
Also planned is capacity expansion of total spirit-based starch liquefaction section of 75 klpd, installation of a high-pressure boiler and back-pressure turbine, which would use biogas and biomass as fuel and implementation of green house gas abatement project at both the facilities, which will entitle the company for carbon credit.
The company posted a gross turnover of Rs 116.67 crore in 2006-07 with a CAGR of over 30 per cent in the last three years, and registered a profit after tax of Rs 8.66 crore.
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