The initial public offering (IPO) of Ravi kumar Distilleries, a manufacturer of Indian Made Foreign Liquor (IMFL), has opened for subscription. The company offers 115 lakh equity shares through IPO, which has a price band of Rs 56-64 per equity share.
Ravi Kumar aims to raise around Rs 64.40-73.60 crore through the IPO, which will be done through a book building process.
It is engaged in the business of manufacturing Indian Made Foreign Liquor (IMFL) under its own brand portfolio as well as under tie-up arrangements with other companies. The IMFL comprises of Whisky, Brandy, Rum, Gin & Vodka.
Proceeds from the issue will be used for expansion in unit by increase in existing capacity and installation of re-distillation plant; partly financing the marketing and corporate branding expenses; partly financing incremental working capital requirements and for general corporate expenses.
Comfort Securities Pvt Ltd is the book running lead manager to the issue.
