Varun Beverages Sets Sights on Rs 7,500 Crore Growth Surge
Varun Beverages, a major bottler for PepsiCo, plans to raise Rs 7,500 crore through Qualified Institutional Placement to fuel expansion, repay debts, and invest in subsidiaries. The funds will support growth in existing businesses and entry into new markets. VBL, largely rooted in India, is extending its reach globally.
- Country:
- India
Varun Beverages, a prominent partner of beverage giant PepsiCo, is aiming to raise Rs 7,500 crore via Qualified Institutional Placement (QIP) to bolster its expansion strategy, according to a company announcement made on Wednesday.
The board approved this capital-raising effort subject to shareholder approval. The funds, anticipated to be spread across multiple allocations, will facilitate investments in subsidiaries, joint ventures, or associates, while also supporting business growth, portfolio expansion, and strategic acquisitions.
This move will also allow Varun Beverages Ltd (VBL) to manage its debt effectively. With a strong association with PepsiCo for over 30 years, VBL is significantly widening its footprint, including recent acquisitions in Africa to enhance its market presence.
(With inputs from agencies.)
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