The world’s second largest PepsiCo Inc. bottler, Varun Bevarages set the price band of Rs 440-445 for its forthcoming initial public offering (IPO) with the face value Rs.10 for each share. According to a term sheet of the deal, Varun Bevarages IPO is targeting to raise between USD 165 million and USD 167 million.
PepsiCo’s franchisee bottler, Varun Bevarages is also offering 25 million shares including 15 million primary shares and another 10 million secondary shares. Thar represent 13.7% of expanded capital.
Varun Bevarages said that it’s Rs. 1,100 crore initial public offering (IPO) will open on 26th October, 2016 and it will close on 28th October, 2016.
Varun Bevarages IPO 2016 Details:
Opening Date: 26th October, 2016
Closing Date: 28th October, 2016
Price Band: Rs 440-445
Face Value: Rs. 10
Listing At: NSE and BSE
The company will have a market value of about USD 1.2 billion after the IPO. It will be open for subscription between 26th-28th October, 2016. The shares will start trading on or around 8th November.
At the upper limit of the price band, the IPO would fetch a total of Rs 1,112.50 crore that represent 13.7 per cent of the expanded capital. Consequently, the company would command a market capitalization of Rs 8,120 crore.
The company’s shares are proposed to be listed on National Stock Exchange (NSE) and BSE Limited (BSE). Varun Bevarages is one of the largest franchisee in the world of carbonated soft drinks (CSD) and non-carbonated beverages (NCB) sold under trademarks. Which is owned by PepsiCo.
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