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Aurangabad Distillery SME IPO – Details & Review

Aurangabad Distillery has announced its SME IPO and the IPO is opened on 30-Sep for subscription.

Issue Details of  IPO:  

  • IPO Open :  30th Sep to 6th Oct 2016
  • Issue Price: Rs 35 per share
  • Issue Size:  Rs 7.7p crores
  • Minimum Bid – 4000 shares
  • Maximum Bid – 4000 shares
  • Minimum Investment:  Rs 140000
  • Book Running Lead Managers :  Hem Securities
  • Registrar – BigShare Services
  • Listing: The shares will be listed on SME platform of NSE.

Background:

Aurangabad Distillery Limited (ADL) (Incoporated in 2000)  is engaged in the business of manufactures and sells rectified spirit, denatured spirit, and extra neutral alcohol.

They also offers extra neutral alcohol, absolute alcohol, or fuel alcohol from molasses. The manufacturing process of Rectified Spirit, Denatured Spirit and Extra Neutral Alcohol is based on the modern technology of Continuous Fermentation and multi pressure vacuum distillation and molasses from sugar factory is used as raw material for manufacture of Spirit. Visit chittorgarh.com for more detail.Company also sells carbon dioxide (CO2) and fusel oil which are produced as by-products during distillation process of Spirit. Additionally their company produces electricity through turbine which is captive consumed in distillation process and reduces the dependency on purchased electricity. The majority of the spirit which contains 95% alcohol by nature and also used to manufacture alcohol by the process of rectification is used by chemical and pharmaceutical industries. 

Objective of the issue:

  • Working Capital requirements;
  • Repayment/prepayment of secured & unsecured loan
  • Issue Expenses.

Pros & Cons: Will be updated soon.

Financials:Will be updated soon

Valuation as compared to its peers: Will be updated soon.

Should you invest:   Will be updated soon.

Disclaimer:  The articles or analysis on this website should not be constituted as Investment advice. Please consult your financial advisor before making any investments.

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