Globus Spirits Limited announced the successful completion of its Qualified Institutions Placement (QIP) raising ₹200 crore from institutional investors. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The company allotted 23,80,952 equity shares at an issue price of ₹840 per equity share, aggregating to ₹200 crore. The QIP witnessed strong participation from both existing and new domestic and international institutional investors.
Use of Proceeds
The proceeds from the QIP will be utilized in accordance with the objects stated in the Placement Document, including:
- Repayment/prepayment, in part or full, of certain outstanding borrowings
- General corporate purposes
Management Commentary
Mr. Shekar Swarup, JMD & CEO, stated that the capital raise reflects confidence in the company's long-term strategy and will accelerate the consumer business while maintaining financial discipline. He emphasized the company's focus on building enduring brands and allocating capital prudently.
Mr. Nilanjan Sarkar, Chief Financial Officer, added that the QIP strengthens the capital base and enhances financial flexibility while being conscious of dilution. The company will maintain a disciplined approach to capital deployment guided by return thresholds.
Strategic Context
The capital raise comes at a stage of improved operating performance and successful debt restructuring. The company continues to execute its consumer-led growth strategy through a balanced brand portfolio across Regular & Others, Prestige & Above, and luxury segments.
Advisors
Nuvama Wealth Management Limited acted as Book Running Lead Manager to the issue.