Alcobrew Distilleries said it plans to invest Rs 100 crore to set up a new manufacturing unit as well as in brand promotion.
Alcobrew Distilleries Chairman and MD Romesh Pandita said that the proposed investment would help the company double its business in the next 2-3 years.
The company plans to raise Rs 65 crore through debt and Rs 35 crore from its reserves to fund the investment, Alcobrew Distilleries said in a statement.
The company, which has received a letter of intent from Himachal Pradesh government to set up a malt distillation and saturation plant, said it aims to focus on premium and semi-premium whisky segments.
“We are also exploring investment and funding opportunities to expand the business and create a high revenue generating organisation,” the Chairman said.
Alcobrew Distilleries has brands like ‘Golfer’s Shot’ in premium whisky range and ‘White & Blue’ in the semi-premium range.