Empee Distilleries will list on exchanges on Monday, 26 November 2007. The stock will be placed in the B1 group of securities on BSE.The company had fixed the IPO price at the top end of the Rs 350-400 price band.
At the IPO price of Rs 400, the PE multiple works out to 34.78, based on the the nine months ended June 2007 annualised EPS of Rs 11.5.
The Empee Distilleries IPO had ended on 6 November 2007 with 6.87 times subscription. The issue received total bids for 3.29 crore shares compared with the issue size of 48 lakh shares.
The qualified institutional buyers (QIB) portion was subscribed 8.76 times, the Non Institutional Investors segment by 2.31 times and the retail investors portion by 6.11 times.
The IPO was priced between Rs 350-400 per share. The issue constitutes 25.26% of the post issue paid-up capital.
Empee Distilleries proposes to part-finance its expansion from the net proceeds.
The company plans to set up 60 klpd grain based distillery and blending & bottling Indian-made-foreign-liquor plant with capacity of 0.07 lakh cases per month in Nellore, Andhra Pradesh. It plans to expand the existing distillery in Mevalorkuppam.
The company will also set up 7.5 mega watts (MW) biomass based power plant in Aranthangi, and develop 2 lakh square feet of residential space at Mevalorkuppam, in Tamil Nadu.
The company currently manufactures various IMFLs in Tamil Nadu and Kerala. It also has a wind mill energy plant in Coimbatore.
Empee Distilleries reported a profit after tax of Rs 16.42 crore on revenue of Rs 525.30 crore in the nine months ended June 2007.|