Liquor company Globus Spirits Limited opened trading at BSE at Rs 110 – Rs 10 above the IPO price of Rs 100.
The company entered the capital market on August 31, 2009 with a public issue of 75, 00,000 equity shares of Rs 10 each with a price band of Rs 90 to Rs 100 per equity share.
Earlier the IPO of Globus Spirits, engaged in the business of manufacture, sales and marketing of Indian Made Foreign Liquor (IMFL), Industrial Alcohol comprising of rectified spirit and Extra Neutral Alcohol and Country Liquor, was oversubscribed 1.5 times on Wednesday, the last day of the issue.
Srei Capital Markets Limited and Keynote Corporate Services Ltd were book running Lead Managers for the issue, while Link Intime India Pvt Ltd was the Registrar to the issue. The issue was made through a 100% Book Building Process.
The company proposes to modernize and expand its production facilities at Behror, Rajasthan and Samalkha, Haryana. Globus Spirits Limited also plans to develop and acquire IMFL brands; and revamp its bottling and storage capacities. With the installation of High-Pressure Boilers and Back–Pressure Turbines, Globus Spirits Limited would use Biogas and Biomass as fuel and be able to implement Green House Gas Abatement program at both the facilities. The company will also install a Multi-Pressure Distillation Plant to produce high quality Extra Neutral Alcohol (ENA) of 35,000 Litres per day from both Molasses and Grain at its Behror Unit in Rajasthan as well as produce ENA from Grain at Samalkha Unit in Haryana making its installed capacity of both units at 4,98,00,000 BL per annum.
