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Our Bureau

Mumbai, Nov. 1 Champagne Indage Ltd, the wine-focussed flagship company of the Indage Group, is set to raise up to Rs 120 crore to expand its processing capacities, besides completing recently-made overseas acquisitions.

The funds will be raised through a combination of debt and equity, and a decision will be taken in the next few weeks, Mr Rajesh Chalke, Chief Financial Officer, told Business Line. The company’s board took a decision to this effect on Friday. Promoters hold 41 per cent in the company and are unlikely to dilute their stake, he clarified.

Explaining the timing of the decision, he said, the company was confident that the expansion it undertakes now will help it achieve its target for the years ahead. The wine-maker is looking to add 50-60 million litres in 3-5 years, to its existing capacity of 18 million litres, Mr Chalke said.

The funds being raised will also be used to complete its acquisitions in the UK and Australia, undertaken over the last two years. The company clocked revenues of Rs 185 crore from India, and a consolidated revenue of Rs 255 crore for the year ended March 2008.

More Stories on : New Projects | Breweries | Overseas Investments

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