Here is IPO price band for Varun Beverages
DSIJ Intelligence / 19 Oct 2016
Varun Beverages sets Rs 440-445 per share range for its initial public offer (IPO). The IPO is offering up to 2.5 crore shares, comprising 1.5 crore primary and the rest secondary shares, representing 13.7 per cent of the expanded capital.
Varun Beverages sets Rs 440-445 per share range for its initial public offer (IPO). The IPO is offering up to 2.5 crore shares, comprising 1.5 crore primary and the rest secondary shares, representing 13.7 per cent of the expanded capital. It will be open for subscription between October 26-28. The shares will start trading on or around November 8.
Varun Beverages had filed for its offer document with Securities Exchanges of India (SEBI) in June. Kotak, Axis Capital, CLSA and Yes Securities are managing the IPO for Varun Beverages.
Varun Beverages is targeting to raise funds of Rs 1112 crore. The company will have a market value of about Rs 8005 crore after the IPO.
On financial front, Varun Beverages revenue has increased by 35.41 per cent to Rs 3408 crore in CY15 as compared to same period in previous year. The company posted net profit of Rs 87 crore in CY15 against net loss of Rs 20 crore in CY14.
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