Pincon Spirit to invest Rs. 400 cr for expansion.

Pincon Spirit Ltd. will invest nearly Rs. 400 crore in the next two years for the expansion of its liquor and FMCG divisions. The FMCG division includes edible oils (mustard, soya and palm).

Funds are likely to be raised through a combination of non convertible debentures (NCDs), fresh equity and deposits from shareholders and public, the company said in a BSE filing today.

An EGM was convened in this regard recently.

The Kolkata-headquartered, BSE-listed company had reported a turnover of Rs. 602.56 crore in 2014-15.

According a release issued by the company, it has informed the shareholders that Pincon Spirit wants to become a pan-India company within 2018. Some of the states where it currently has operations include West Bengal, Karnataka, Odisha, Jharkhand, Uttarakhand and the North-East. It is also eyeing entry into new states.

HBL