Globus Spirits has reportedly raised Rs 70 crore through issue of cumulative compulsorily convertible preference shares. The company will use the raised fund for creating a hub in the eastern part of India. At present, the promoters hold 67 percent stake in the company.
Globus Spirits is engaged in the business of manufacture, marketing and selling of Industrial Alcohol (comprising RS and ENA), CL and IMFL. The company has a well established position in domestic CL segment with significant market share (22%, 17% and 20% share in Rajasthan, Haryana and Delhi respectively).
