Empee Distilleries Limited IPO : Empee IPO opens on Nov 01

Empee Distilleries Limited IPO Details : Empee Distilleries Limited, a Chennai based Distillery, producing alcoholic beverages, is coming out with an IPO through the book building route. Empee Distilleries IPO opens for subscription on 01 November, 2007 and closes for subscription on 06 November, 2007. Empee Distilleries Limited is one of the leading supliers of Indian Made Foreign Liquor (IMFL) to the Tamil Nadu State Government. The state government of Tamil Nadu, through Tamil Nadu State Marketing Corporation Limited (TASMAC), procures IMFS and Beer stocks locally from six IMFS manufacturers and three Beer manufacturers in Tamilnadu. Empee Distilleries Limited is one of the leading suppliers to TASMAC and the promoters of Empee Distilleries Limited  are said to be politically well-connected in Tamilnadu. Empee Distilleries has manufacturing plants in Tamilnadu and Kerala. In the next 2 months there are 3 Distilleries set to tap the capital market through IPO’s. Apart from Empee Distilleries Limited, Globus Spirits and United Spirits are planning to come out with an IPO and FPO respectively to raise capital. With the sector growing at over 35% CAGR, the Liquor company IPO’s are likely to keep market in high spirits. The price band for Empee Distilleries IPO has been fixed between Rs. 350 to Rs. 400 per share of face value Rs. 10 each. Post IPO, the shares of Empee Distilleries Limited will be listed on both NSE and BSE. The lot size of Empee IPO is 15 shares per lot. For Empee IPO subscription details and Empee IPO allotment details, do visit this site often.

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