Globus Spirits IPO opens today, offer of 75 lakh shares, price band Rs 90-100
Globus Spirits IPO opens today, offer of 75 lakh shares, price band Rs 90-100.
Globus Spirits has opened for subscription with an initial public offering (IPO) of Rs 75 crore. Earlier in 2008, it was scheduled to open its IPO with a price band of Rs 135-148 a share, between February 19-22 and planned to raise Rs 68 crore. The company had withdrawn its IPO due to unfavourable market conditions.
Now, its issue price is fixed between Rs 90-100/share. It will close on September 2, 2009. The market cap of the company will be Rs 198 crore at the upper end of the price band.
Objectives of the issue
Installation of multi-pressure distillation plants.
Eexpansion of spirit-based starch liquefaction unit.
Installation of high-pressure boiler.
Brand development for marketing IMFL brands.
Revamping of existing storage/bottling capacity.
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