Aurangabad Distillery is coming out with an initial public offering (IPO) of 22,00,000 equity shares of face value of Rs 10 each for cash at a fixed price of Rs 35 per equity share. The issue will open on September 30, 2016 and will close on October 06, 2016. The shares will be listed on NSE Emerge platform.
The company will use the issue proceeds for repayment/prepayment of secured and unsecured debts, meeting the issue expenses and general corporate purpose. The book running lead manager to the issue is HEM Securities, while the compliance officer for the issue is Sheetal Jagetiya.
Aurangabad Distillery is leading manufacturers of Rectified Spirit, Denatured Spirit and Extra Neutral Alcohol. Apportion of its production of mollasses from sugar factory is used as raw material for manufacture of spirit i.e. Rectified Spirit, Denatured Spirit and Extra Neutral Alcohol which is manufactured by the Continuous Fermentation & Multipressure Vacuum Distillation and also effecting sells of carbon dioxide (CO2) and fusel oil which are produced as by-products during distillation process of Spirit.