Chennai: Empee Distilleries’ initial public offering opens on November 1 at a price band of Rs 350-400 a share of Rs 10 each.
The company will issue 48 lakh equity shares through the book-building route. The issue closes on November 6.
Empee Distilleries, manufacturer of Indian Made Foreign Liquor, is part of the Empee group, which has interests in sugar and hotels.
Addressing a press conference to announce the IPO, Nisha Purushothaman, Joint Managing Director, Empee Distilleries, said that the issue was to finance its expansion programme. These include a backward integration to set up a 60 kilolitre a day grain-based alcohol distillery in Nellore; a blending and bottling plant for IMFL in Nellore with a capacity of 7,000 cases a month; expanding the 20 kilolitre a day distillery in Mevaloorkuppam to 70 kilolitres.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment