Som Distilleries rallies on fund raising, expansion plans
The company is in the process of raising $30 million (approximately Rs 150 crore) to part finance the future inorganic and organic growth plans.
Som Distilleries and Breweries has rallied 8% to Rs 263 after the company said it is in the process of raising $30 million (approximately Rs 150 crore) to part finance it's future inorganic and organic growth plans.
“The company has plans of acquiring a plant in South India in current financial year,” Som Distilleries and Breweries said in a statement.
The company also has plans to set up a Greenfield project in the northern part of the country in FY2013-14. This plant is expected to become operational in FY2015-16, it added.
According to media reports the Bhopal-based beverage company Som Distilleries and Breweries, maker of Hunter beer, is in talks with the European investment bank Bryan, Garnier & Co to raise funds.
The stock opened at Rs 246 and hit a high of Rs 269 on BSE. Around 28,000 shares changed hands on the counter so far on BSE.
“The company has plans of acquiring a plant in South India in current financial year,” Som Distilleries and Breweries said in a statement.
The company also has plans to set up a Greenfield project in the northern part of the country in FY2013-14. This plant is expected to become operational in FY2015-16, it added.
According to media reports the Bhopal-based beverage company Som Distilleries and Breweries, maker of Hunter beer, is in talks with the European investment bank Bryan, Garnier & Co to raise funds.
The stock opened at Rs 246 and hit a high of Rs 269 on BSE. Around 28,000 shares changed hands on the counter so far on BSE.