Empee Distilleries Lists At Rs 440 On BSE

Empee GroupThe shares of Empee Distilleries have got listed today on Bombay Stock Exchange (BSE) at a premium of 10 percent as against its issue price of Rs 400.

Within a few minutes of its listing on the BSE, the scrip touched a high of Rs 489. It also touched a low of Rs 382.20.

In early trading (9:57 am), the share price stood at Rs 394, down 1.5% on BSE.

Empee Distilleries is a maker of Indian made foreign liquor (IMFL). It presently manufactures IMFL at its facilities in Tamil Nadu and Kerala.

The company plans to use the income generated through IPO proceeds to finance the expansion of its existing facility at Tamil Nadu, setting up a grain-based distillery at Andhra Pradesh.

The company will also establish 7.5 MW biomass based power plant in Aranthangi, and develop 2 lakh square feet of residential space at Mevalorkuppam, in Tamil Nadu.

Presently, the company manufactures a variety of IMFLs in Tamil Nadu and Kerala. It also has a wind mill energy plant in Coimbatore. The company owns 20.88 acres of land at Kanchipuram.

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