Now, its issue price is fixed between Rs 90-100/share. Price looks more reasonable now but it may still be on the higher side. It will open for subscription on August 31 and will close on September 2, 2009. The market cap of the company will be Rs 198 crore at the upper end of the price band.
The company intends to use the IPO proceeds for installation of multi-pressure distillation plants, expansion of spirit-based starch liquefaction unit, installation of high-pressure boiler, brand development for marketing IMFL brands and revamping of existing storage/bottling capacity.
Watch out this blog for subscription, allotment and listing details!
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