Wednesday, December 1, 2010

Ravi kumar Distilleries IPO - Analysis, Recommendation, Review

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Ravi kumar Distilleries, a manufacturer of Indian Made Foreign Liquor (IMFL), is entering the capital market with an IPO of 115 lakh equity shares. The company aims to raise around Rs 64 - Rs 73 crore through the IPO.

The company is engaged in the business of manufacturing Indian Made Foreign Liquor (IMFL) under its own brand portfolio as well as under tie-up arrangements with other companies. The IMFL comprises of Whisky, Brandy, Rum, Gin & Vodka.

The IPO opens on December 08, 2010 and closes on December 10, 2010. The company has set a price band at Rs 56-64 per equity share.

The proceeds from the issue will be used for expansion in unit by increase in existing capacity and installation of re-distillation plant; partly financing the marketing and corporate branding expenses; partily financing incremental working capital requirements and for general corporate expenses.

Comfort Securities Pvt Ltd is the book running lead manager to the issue.

We would recommend investors to stay away from this IPO.
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