Globus Spirits gets SEBI nod for IPO

Globus Spirits gets SEBI nod for IPO
PTI
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First Published: Tue, Jan 08 2008. 05 05 PM IST
Updated: Tue, Jan 08 2008. 05 05 PM IST
Mumbai: Delhi-based Globus Spirits Tuesday said it has received market regulator’s nod for raising funds from the capital market through an initial public offer.
The company plans to raise Rs 68 crore to modernise and expand its production facilities in Rajasthan and Haryana, Globus said in a statement.
Globus would use the funds to install multi-pressure distillation plant to product 35,000 litres per day of Extra Neutral Alcohol from molasses and grains in Rajasthan unit and 35,000 litres per day of ENA from grains in Haryana unit.
For 2006-07, the company reported a profit after tax of Rs 8.66 crore and a revenue of Rs 116.67 crore.
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First Published: Tue, Jan 08 2008. 05 05 PM IST
More Topics: Globus Spirits | IPO | Money Matters | IPOs |