In a regulatory filing, the distilleries company said that the board has approved raising of funds by issue of equity shares and/or other securities convertible into equity shares to raise funds for an aggregate consideration of up to Rs 350 crore, through public and/or private offerings and/or by way of a qualified institutions placements or any combination thereof, in one or more tranches.

Som Distilleries & Breweries (SDBL) is primarily engaged in brewing, fermentation, bottling, canning and blending of beer and IMFL. It also supplies draught beer from its plants.

On a consolidated basis, the company's Q1 FY24 net profit surged 31.2% to Rs 33.67 crore, while revenue from operations (excluding excise duty) grew by 51.4% to Rs 385.02 crore.