Varun Beverages files IPO papers

Varun Beverages, one of the largest bottling franchisee of PepsiCo in the world outside USA, has filed for an IPO. Varun Beverages sells carbonated soft drinks (CSDs) and non-carbonated beverages (NCBs) under trademarks owned by PepsiCo. 

Varun Beverages has filed a Draft Red Herring Prospectus (DRHP) for issuing its shares to the public, up to 2.5 crore equity shares. The issue will consist of a fresh issue of shares up to 1.5 crores and an offer for ale (OFS) of up to 50 lakh shares by Varun Jaipuria and 50 lakh shares by Ravi Kant Jaipuria  & Sons  - Hindu Undivided Family (HUF). 

The offer will be made under the book-building process and not more than 50 per cent of the net offer shall be available for the Qualified Institutional Buyers (QIBs) according to the company management.  Yes Securities (India) is the book running lead manager for the issue and Kotak Mahindra Capital Company, Axis Capital and CLSA India Private Limited will be the global co-ordinators and book running lead managers to the offer.

Varun Beverages Ltd., is the flagship company of the RKJ group headed by Mr. R.K. Jaipuria, which claims an expertise and leadership in the fields of education, food and beverages.