Ravi Kumar Distilleries will be listing its equity shares on December 27, 2010. It has raised Rs 73.60 crore through IPO of 1.15 crore equity shares at higher end of price band of Rs 56-65 a share.
The issue was opened for subscription during December 8-10 and was subscribed 2.22 times.
Ravi Kumar is engaged in the business of manufacturing Indian made foreign liquor (IMFL) under its own brand portfolio as well as under tie-up arrangements with other companies. The IMFL comprises of whisky, brandy, rum, gin & vodka.
Proceeds from the issue will be used for expansion in unit by increase in existing capacity and installation of re-distillation plant; partly financing the marketing and corporate branding expenses; partly financing incremental working capital requirements and for general corporate expenses.
Source: http://www.moneycontrol.com
Thank you,
Minita Aiya
Client Service Associate
DENIP Consultants Pvt. Ltd.
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