Mumbai: Delhi-based Globus Spirits announced on Tuesday that its initial public offering would open on August 31.

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The price band for the issue has been fixed at Rs 90-Rs 100. The issue will close on September 2. The company’s shares will be listed on the BSE and NSE.

Globus Spirits, which could raise up to Rs 75 crore through the issue, is in the business of manufacture, sales and marketing of Indian made foreign liquor (IMFL), industrial alcohol and country liquor.

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A part of the proceeds from the issue will be used to modernise and expand the company’s production and storage facilities at Rajasthan and Haryana. The funds will also be used to acquire other IMFL brands.

Rating agency CARE has given the issue a grade 3 indicating average fundamentals.

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Keynote Corporate Services and SREI Capital Markets are the Book Running Lead Managers to the issue.

JSW Energy

JSW Energy, which has plans to enter the primary market with an Rs 3,000-crore issue, is still in the process of deciding the price band. “The price of the issue will be higher than that of NHPC and Adani Power,” said Krishna Deshika, Joint Group CFO of JSW Energy

S.S. Rao, Joint Managing Director and CEO of JSW Energy, said once the company gets SEBI approval for the IPO (any time after September 13), it will decide the date of the issue depending on the market conditions.

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Rao also said by 2015, the company will increase its capacity to 11,000 MW. “As of now we have installed capacity of 560 MW. By the end of next year we will increase it to 3,140 MW and by 2015 we add another 7,740 MW. We will be entering into transmission, distribution and equipment manufacture,” he added.

source: Sify

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