Varun Beverages Seeks Rs 7,500 Crore Boost via QIP

Varun Beverages, a major bottler for PepsiCo in India, plans to raise Rs 7,500 crore through a Qualified Institutions Placement. The funds, approved by the company's board, will target business growth, debt reduction, and strategic investments, subject to shareholder approval.

Varun Beverages, a leading player in the bottling industry for PepsiCo, is set to raise Rs 7,500 crore via Qualified Institutions Placement (QIP) to support ambitious growth plans.

The company's board has given the green light for issuing equity shares worth up to Rs 7,500 crore through QIP, according to regulatory documents. This move awaits final approval from the company's equity shareholders through a postal ballot.

The capital raised will be directed towards investments in subsidiaries, joint ventures, and associates, alongside expanding the current product line and entering new markets. It will also aid in settling existing debts and other corporate purposes, as reported by Varun Beverages Ltd.

(With inputs from agencies.)