1. Varun Beverages raises Rs 327 cr from anchor investors

Varun Beverages raises Rs 327 cr from anchor investors

Varun Beverages, franchisee for soft drinks maker PepsiCo, on Tuesday raised `327.08 crore from anchor investors ahead of its initial public offering.

By: | Mumbai | Published: October 26, 2016 6:17 AM

Varun Beverages, franchisee for soft drinks maker PepsiCo, on Tuesday raised `327.08 crore from anchor investors ahead of its initial public offering. Varun Beverages sold 73,50,000 shares to anchor investors at a rate of `445 per share the upper end of `440 -445 price band it has set for its three-day public offering that opens on Wednesday. The issue will close on Friday.

Investors acquiring shares in the anchor allotment include Merrill Lynch, Morgan Stanley, American Funds Insurance, Abu Dhabi Investment, Nordea, Wasatch, Small Cap World Fund, Sundaram MF, among others. Varun Beverages aims to raise `1,113 crore through an Offer for Sale 1 crore shares by promoters Varun Jaipuria and Ravi Kant Jaipuria and a fresh issue of 1.5 crore shares.

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