Empee Distilleries Ltd will enter the capital market on Nov 1 with a 48,00,000 share issue of Rs 10 each priced Rs 350-400 per share.
The issue constitutes 25.26 per cent of the post issue paid-up capital. It closes on Nov 6. CARE has assigned grade 3 to the float.
Empee Distilleries proposes to part-finance its expansion from the net proceeds.
The company plans to set up 60 klpd grain based distillery and blending & bottling Indian-made-foreign-liquor plant with capacity of 0.07 lakh cases per month in Nellore, Andhra Pradesh. It plans to expand the existing distillery in Mevalorkuppam.
The company will also set up 7.5 MW biomass based power plant in Aranthangi, and develop 2 lakh square feet of residential space at Mevalorkuppam, in Tamil Nadu.
The company currently manufactures various IMFLs in Tamil Nadu and Kerala. It also has a wind mill energy plant in Coimbatore. The company owns 20.88 acres of land at Kanchipuram.
Empee Distilleries made net profit of of Rs 14.62 crore on income of Rs 478.80 crore for the nine months ended June 30, 2007.
For the year ended September 30, 2006, the company posted a net profit of Rs 8.89 crore on income of Rs 482.99 crore. In 2005, the net profit and income stood at Rs 5.65 crore and Rs 331.74 crore, respectively.
The issue constitutes 25.26 per cent of the post issue paid-up capital. It closes on Nov 6. CARE has assigned grade 3 to the float.
Empee Distilleries proposes to part-finance its expansion from the net proceeds.
The company plans to set up 60 klpd grain based distillery and blending & bottling Indian-made-foreign-liquor plant with capacity of 0.07 lakh cases per month in Nellore, Andhra Pradesh. It plans to expand the existing distillery in Mevalorkuppam.
The company will also set up 7.5 MW biomass based power plant in Aranthangi, and develop 2 lakh square feet of residential space at Mevalorkuppam, in Tamil Nadu.
The company currently manufactures various IMFLs in Tamil Nadu and Kerala. It also has a wind mill energy plant in Coimbatore. The company owns 20.88 acres of land at Kanchipuram.
Empee Distilleries made net profit of of Rs 14.62 crore on income of Rs 478.80 crore for the nine months ended June 30, 2007.
For the year ended September 30, 2006, the company posted a net profit of Rs 8.89 crore on income of Rs 482.99 crore. In 2005, the net profit and income stood at Rs 5.65 crore and Rs 331.74 crore, respectively.
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