Shares of top liquor manufacturer Radico Khaitan ended at day's high, rising by 3.52 percent on June 18 after the company announced plans to bring its international brand of single malt whisky - Rampur Asava - to Indian market.
"We are witnessing a remarkable growth in the acceptance and appreciation of Indian luxury spirits at the global scale," Abhishek Khaitan, Managing Director of Radico Khaitan said, adding that Rampur Asava's India launch comes at a time of 'growing demand for Indian single malts'.
The Rampur Asava whisky will be priced at Rs 10,000 and will initially start from Uttar Pradesh, and will later be available in Delhi, Chandigarh, Punjab, Uttarakhand, Haryana, Telangana, and Goa. The rollout is expected to be completed within this financial year, the company said, adding that the single malt will also be introduced through the CSD (Canteen Store Department) route. Radico Khaitan is one of the largest providers of branded IMFL to Indian government's Canteen Stores Department (CSD).
About Asava
Radico Khaitan claims the Asava single malt is matured in American Bourbon barrels and then finished in Indian Cabernet Sauvignon casks, given it a unique identity. The use of Indian red wine casks is a first in single malt history, Radico added.
Liquor maker Radico Khaitan reported a 26% rise in fourth-quarter profit on Tuesday, driven by strong demand for its premium brands. Recently,its vodka brand Magic Moments had become the world's 7th largest brand in its category.
Radico Khaitan has distilleries situated in Rampur, Sitapur and Aurangabad, Maharashtra, with a total owned capacity of 320 million litres and operates 41 bottling units acros India. Radico's Rampur Signature Reserve Indian single malt is currently being sold at Rs 5 lakhs.
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