Pincon to spend Rs 400cr
Pincon Spirit Limited, the Calcutta-based liquor manufacturer, is looking to invest Rs 400 crore over the next two years to expand its liquor and fast moving consumer goods business.
- Published 29.07.15
Calcutta, July 28: Pincon Spirit Limited, the Calcutta-based liquor manufacturer, is looking to invest Rs 400 crore over the next two years to expand its liquor and fast moving consumer goods business.
According to the company, the investment would be to augment manufacturing capacity as well as expand its presence in the south and northern parts of the country.
The company is present in Bengal, Karnataka, Odisha, Jharkhand, Uttarakhand and the northeastern states.
"We have got a good response in country spirit in Bengal and are now looking to expand business in the state. At the same time, we are expanding our geographic presence," said Arup Thakur, director (finance) of Pincon Spirits.
The company is planning a greenfield country spirit plant at Kharagpur besides setting up more retail shops to push its liquor brands. In addition to liquor, the company makes edible oil.
The company has informed its shareholders at its extraordinary general meeting that for supporting future business expansion it needs to raise funds through NCDs, fresh equity and deposits from shareholders and the public.
Thakur added that the company was looking to raise up to Rs 100 crore through non-convertible debentures and expand the capital base of the company as well.