Global spirits IPO price band of Rs 90 to Rs 100 per equity share

Global spirits entered into the capital market on August 31 with a public issue of 75-lakh equity shares of Rs 10 each with a price band of Rs 90 to Rs 100 per equity share.

· The issue, which was made through a 100 per cent book building process, was oversubscribed 1.5 times on Wednesday, the last day of the issue.

· Srei Capital Markets and Keynote Corporate Services were the book running lead managers for the issue, while Link Intime India acted as the registrar.

· The company proposes to utilise the issue proceeds to modernise and expand its production facilities at Behror, Rajasthan and Samalkha, Haryana.

· Globus has also plans to develop and acquire IMFL brands and revamp its bottling and storage capacities.

· Besides, it 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.

· It will also produce ENA from Grain at Samalkha Unit in Haryana making its installed capacity of both units at 4,98,00,000 BL per annum.