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Friday, April 09, 2010

Ravi Kumar Distilleries To Go Public; Files DRHP

Ravi Kumar Distilleries Limited plans to raise funds through IPO by issuing 11.5 Mn equity shares.

The company plans to dilute 47.92% of its post issue capital.

The issue will be managed by Comfort Securities Pvt Ltd.

The funds will be used to expand the existing capacity of its manufacturing unit, instillation of re-distillation plant, part finance marketing and branding and for its working capital requirements.

Transaction Reference: DRHP filed with SEBI
Transaction Note

Ravi Kumar Distilleries Limited is a manufacturer of Indian Made Foreign Liquor under its brands and as well as tie-up arrangement with various liquors companies of India.

The company, incorporated in 1993, is promoted by R.V. Ravikumar. At present, the promoter and promoter group hold 100% stake in the company.

Radico Khaitan Ltd., Shashi Distilleries Pvt. Ltd., John Distilleries Ltd., Gemini Distilleries (Pondy) Pvt. Ltd., Mondovi Distilleries & Breweries Pvt. Ltd have tie ups with Ravi Kumar for manufacturing and marketing of their popular brands like 8 PM Rare Whisky, Radico Gold etc.

The expenditure on the unit is expected to cost around Rs 11 cr.

The company has a balance sheet size of Rs 53 cr. For the year ended March 09, Ravi Kumar Distilleries reported net profit of Rs 1.7 cr over a turnover of Rs 43 cr.

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