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Bijoy Ghosh

Ms Nisha Purushothaman, Joint Managing Director, Empee Distilleries Ltd, and Mr M.P. Purushothaman, Chairman and Managing Director, at a press conference in Chennai on Wednesday in connection with the company’s IPO. –

Our Bureau

Chennai, Oct. 31

Empee Distilleries’ initial public offering opens on November 1 at a price band of Rs 350-400 a share of Rs 10 each. The company will issue 48 lakh equity shares through the book-building route. The issue closes on November 6.

Empee Distilleries, manufacturer of Indian Made Foreign Liquor, is part of the Empee group, which has interests in sugar and hotels.

Addressing a press conference to announce the IPO, Ms Nisha Purushothaman, Joint Managing Director, Empee Distilleries, said that the issue was to finance its expansion programme. These include a backward integration to set up a 60 kilolitre a day grain-based alcohol distillery in Nellore; a blending and bottling plant for IMFL in Nellore with a capacity of 7,000 cases a month; expanding the 20 kilolitre a day distillery in Mevaloorkuppam to 70 kilolitres;

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