Empee Distilleries IPO
Empee Distilleries IPO — date, price band, lot size & details 2007
Empee Distilleries listed on 26 Nov 2007 at ₹462.3, 15.6% above the ₹400 issue price.
Empee Distilleries is a Chennai based maker of Indian made foreign liquor (IMFL) and one of the major suppliers to TASMAC, Tamil Nadu's state liquor retailer. Its total income was Rs 559.66 crore in the year to September 2006.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 01 Nov 2007
- Close 06 Nov 2007
- Allotment 16 Nov 2007
- Refund/credit TBA
- Listing 26 Nov 2007
Issue summary
The terms of the offer, as filed.
| IPO Dates | 1 to 6 Nov, 2007 |
|---|---|
| Price Band | ₹350 – ₹400 |
| Face Value | ₹10 |
| Lot Size | 15 Shares |
| Issue Size | ₹192.2 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | Cameo Corporate Services Limited |
| Min Investment | ₹ 6,000 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 15 shares at the ₹400 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 15 | ₹6,000 |
| Retail (max) | 33 | 495 | ₹1,98,000 |
| S-HNI (min) | 34 | 510 | ₹2,04,000 |
| S-HNI (max) | 166 | 2,490 | ₹9,96,000 |
| B-HNI (min) | 167 | 2,505 | ₹10,02,000 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 447.95 crore in the year to September 2005 to Rs 559.66 crore in the year to September 2006.
- 02Profit after tax rose from Rs 6.14 crore to Rs 17.34 crore over the same period, and was Rs 16.42 crore in nine months to June 2007.
- 03PBIDT was Rs 32.73 crore in nine months to June 2007.
- 04Net worth rose from Rs 29.39 crore in September 2005 to Rs 53.25 crore in June 2007; return on net worth was 22.98%.
Risks · 5
- 01Profit after tax was only Rs 17.34 crore on income of Rs 559.66 crore in the year to September 2006, as most of the price goes to state taxes.
- 02It depended heavily on one buyer, TASMAC, the Tamil Nadu state liquor retailer; sales were Rs 554.48 crore in the year to September 2006.
- 03Liquor is tightly controlled by state governments; rents, rates and taxes of Rs 358.03 crore were its biggest cost in the year to September 2006.
- 04Part of the issue was for a residential project of 2.00 lakh sq. ft., unrelated to its liquor business.
- 05Promoter holding fell from 98.31% before the issue to 73.47% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Empee Distilleries offer document.
| Metric | 30 Jun 2007 | 30 Sep 2006 | 30 Sep 2005 |
|---|---|---|---|
| Total Income | 546.34 | 559.66 | 447.95 |
| Profit After Tax | 16.42 | 17.34 | 6.14 |
| EBITDA | 32.73 | 31.69 | 23.81 |
| NET Worth | 53.25 | 38.71 | 29.39 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Empee Distilleries RHP.
Where the money goes
₹223.37 Cr of the issue is earmarked to named objects.
About the company
Its core business is making Indian made foreign liquor. It entered the business in 1984 with its first distillery unit at Mevaloorkuppam, Tamil Nadu, with a capacity of 2,000 cases a day.
It was one of the major suppliers of IMFL to the Tamil Nadu State Marketing Corporation (TASMAC), and its financial year ended on 30 September.
The IPO was Rs 192.20 crore and was entirely a fresh issue at Rs 400, the top of the Rs 350 to Rs 400 band. The money was for a 60 KLPD grain distillery and a bottling plant in Nellore, a 7.5 MW biomass power plant and a residential project near Sriperumbudur.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Empee Distilleries IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Almondz Global Securities Ltd
23 issues handledBest listing: Amar Remedies (+100.0%). Weakest: First Winner Industries (-12.0%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Empee Distilleries?
The current Grey Market Premium is ₹0.
What is the Empee Distilleries IPO price band?
₹350 to ₹400, on a face value of ₹10.
When is the allotment?
The basis of allotment is 16 November 2007, with listing on 26 November 2007.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Cameo Corporate Services Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
