The Company proposes to expand its integrated production facility situated in Belgaum District from the proceeds of the proposed public issue.
Ashika Capital Limited is the sole Book Running Lead Manager to the issue.
The expansion plan involves increasing the sugarcane crushing capacity from 5500 TCD to 11000 TCD, expansion of distillery capacity from 65KLPD to 100KLPD, increasing the IMFL production Capacity from 2500boxes to 5000 boxes per day and augmenting Co Generation Power Plant from 36.4MW to 66.4 MW.
Incorporated in 1995, Vishwaraj Sugars is into the business of manufacturing of sugar, alcoholic spirits by distillation including ethanol, blending and bottling of Indian Made Foreign Liquor (IMFL) and generation of power.
The company has an integrated sugar production facility located at Bellad Bagewadi, Belgaum District in North West Karnataka. It has cane growing area of 49 villages reserved for supply of sugarcane to their integrated production facility. The company manufactures whisky and rum under their own brand "Our Choice" in Karnataka, also in the process of launching "Your Choice" whisky for relatively upper segment of consumers in Karnataka.
The company also supplies ethanol for blending with motor spirit/petrol to oil marketing companies such as Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited.
For the year ended March 31, 2012, Vishwaraj Sugar had a total income of R425.81Cr and PAT of R51.59 Cr as compared to total income of R354.29 Cr and PAT of R43.09 Cr for the year ended March 31, 2011.
