Date:13/02/2008 URL: http://www.thehindubusinessline.com/2008/02/13/stories/2008021352231600.htm

Back Global Spirits plans to tap capital market

Our Bureau

Mumbai, Feb. 12 Globus Spirits, a company involved in the business of manufacture, sales and marketing of Indian Made Foreign Liquor, Industrial Alcohol and Country Liquor, is planning to tap the capital markets with an IPO of Rs 68 crore.

Dr Bhaskar Roy, Executive Vice-President and CFO, Globus Spirits, said the company has not set any definite dates for the issue and the earliest the IPO will hit the markets in another two to three weeks time. And talking about the price band of the company Mr Roy said that they haven’t decided on the price band yet but they will as conservative as possible while pricing the issue.

The company will use the proceeds from the issue for expanding its plants in Behror, Rajasthan and Samalkha, Haryana, to acquire a canteen stores department brand, to enhance its storage and bottling capacity and also to develop and acquire its IMFL brands.

SREI Capital Markets will be the Book Running Lead Manager for the proposed issue.