Varun Beverages | Pixr8 News

Varun Beverages, franchisee for soft drinks maker PepsiCo, has received markets regulator Sebis approval to raise over Rs 1,000 crore through an initial public offering. Besides, leading logistics service and solutions provider, Seaways Shipping & Logistics has also got Sebis nod to float an IPO. Varun Beverages and Seaways Shipping & Logistics had filed their draft red herring prospectuses with the Securities and Exchange Board of India (Sebi) in June and March, respectively. The two firms got the regulator approval on August 31, as per the latest update. The initial public offer (IPO) of Varun Beverages entails sale of up to 2.5 crore shares, including fresh issue of 1.5 crore shares and offloading of stake by the promoters. Apart from fresh issue of 1.5 crore equity sh...

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...

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PepsiCo Franchisee Varun Beverages Gets Sebi Nod For IPO