Indian made foreign liquor manufacturer Ravi Kumar Distilleries today said it will enter the capital market with its initial public offer (IPO) of 1.15 crore equity shares on December 8.
The price band of the issue has been fixed at Rs 56-64 per equity share, Ravi Kumar Distilleries said in a statement.
At the lower end of the price band the company would raise Rs 64.4 crore from the IPO, while at the upper end it would mop up Rs 73.6 crore.
The IPO will be through a 100 per cent book building process, it added.
The Chennai-based firm plans to utilise the proceeds of the issue towards expansion in unit by increase in existing capacity and installation of Re-distillation plant. Besides, it will also partly finance its marketing and corporate branding expenses through the fund.
Comfort Securities is the sole book running lead managers to the issue.