Tilaknagar Industries’ board has approved a preferential issue of securities (equity shares and warrants) amounting to Rs 2,296 crore. A total of 44 investors are participating in this issue, including promoters and existing prominent shareholders.
The company intends to utilize the proceeds raised through the Preferential Issue (Issue Proceeds) towards acquisition of Imperial Blue business division (IB) and general corporate purpose. This equity issue along with the proposed debt fundraise will ensure an optimal financing mix for the acquisition of IB.
Tilaknagar Industries is a leading manufacturer of liquor across the major categories - Whisky, Brandy, Rum, Vodka and Gin. The company has a leading market position in the southern and western parts of India.
