"Currently, we have mandated to Delloitte to raise private equity of $20 million in the first round by diluting 22-24% equity stake. We are also looking at raising $30 million by diluting another 25% in the next three-year period. The capex will help in expanding the present capacity of 3 lakh cases a month to 5 lakh cases per month," Octaga Green Power & Sugar Co Managing Director Basab Paul told PTI here.
The company also plans to set up bottling units at Himachal Pradesh, Tamil Nadu and Rajasthan, Paul said.
Also Read
The company has presence in the states of Maharashtra, Daman, Goa, Chandigarh and Puducherry, and also supplies to Border Security Force, Para Military Force in Madhya Pradesh, Haryana and Jammu & Kashmir.
"We are looking at markets such as Haryana, Delhi, Punjab, West Bengal, Andhra Pradesh, Tamil Nadu, in the months to come," Paul said, adding it is also looking at entering UAE, Africa and Vietnam for exports.
The company manufacture the finest grain based spirit through a 8-column distillation process. Also its captive power plant is bio-mass based and solely renewable energy. It is also a signatory to the United Nations Global Compact with an endeavour and promise to a carbon neutral environment.
Commenting on the outlook of the liquor industry, Paul said there is a huge growth potential in the premium category specially in the vodka segment. Our product is positioned with Smirnoff (Diageo); Absolute; Russian Standard Vodka. We are very confident of sharing a sizable market in the years ahead.
The industry is growing at 18% year-on-year. We look at a yearly growth of 22 to 24%.
The company's product namely Invincible Vodka, Master's Imperial, Blended Scotch Whisky, which are in the premium and lifestyle spirit segment.
With an in-built power plant of 4 MW co-generation power, an additional co-generation power plant of 8 +8 MW and value additions such as a 20,000 liters per day Malt extraction plant as well as a back-end sugar plant for raw material feed, the distillery has an immense growth potential.
In coming months, the company is looking at launching Grenade XXX Reserve Rum and also its 8 years older Blended Scotch Malt Whisky - Enigma Gold, flavoured Vodka and liquors, Paul said.