India's largest distiller, United Spirits may be looking to buy three to five distilleries for Rs 700-1,000 crore. Its airline company Kingfisher may be looking at raising approx USD 100 million through global depository receipts (GDRs), reports CNBC-TV18's Swati Khandelwal Jain.
UB Group has been looking at changing the bulk goods supplier White and Mackay to a creator of brands. The management is currently weighing alternatives. It says that the company is looking at enhancing its distilleries business and looking at investing close to Rs 800 crore.
Ravi Nedungadi, President and CFO, UB Group said, “The whole process of two-three year time frame over in which we will spend Rs 700-800 crore will be either in buying out an existing distillery or setting up a Greenfield. It will probably be a combination of both.”
On its airline business, the company says the worst is over and is looking at 16-18% growth this year.
Nedungadi said, “Worst seems to be behind us in the aviation industry. There has been extremely strong growth pick-up in the traffic. We ourselves are looking at 16-18% growth. This has resulted in an environment in which capacity expansion has been slow if at all. We are looking at higher loads we are looking at higher retentions.”
The company is looking at raising USD 100m and could consider a GDR optio . It says a final decision on the timing will be taken in august. SBI Caps is doing the debt restructuring for kingfisher.
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