Mumbai (PTI): Wine maker Indage Vintners on Saturday said it will raise Rs 110 crore by private placement of shares with qualified institutional investors.

The shareholders at the extra ordinary general meeting have approved to issue equity shares to qualified institutional buyers (QIB) for raising funds not exceeding Rs 110 crore, Indage Vintners said in a filing to the Bombay Stock Exchange.

Further, to issue 1.03 crore warrants on a preferential basis to the investors and to increase the authorised share capital of the company to Rs 40 crore from the current Rs 25 crore, the filing added.