PepsiCo Indian Franchisee Varun Beverages Files For IPO
Varun Beverages, franchise for soft drinks maker PepsiCo, today filed preliminary papers with Sebi for an IPO to raise over Rs 1,000 crore.
The IPO entails sale of up to 2.5 crore shares, including fresh issue of 1.5 crore shares and offloading of stake by promoters.
The company has filed the draft red herring prospectus with the Securities and Exchange Board of India (Sebi), it said in a release.
Sources said Varun Beverages expects to raise more than Rs 1,000 crore through the initial public offer.
Apart from fresh issue of 1.5 crore equity shares, there would be offer for sale of up to 5,000,000 shares each by Varun Jaipuria and Ravi Kant Jaipuria & Sons (HUF), the release said.
A portion of shares in the IPO would be reserved for eligible employees not exceeding five per...