StanChart invests in Varun Beverages
It plans to use the funds for the buyout of Pepsi's minority stake in its subsidiary, Varun Beverages Ltd, the company said in a statement.
Post the buyout, the company's Indian beverage business will be consolidated into Varun Beverages (International).
"Broadening of the company's capital base shall enable the company to implement its capex plans, enhance capacities and penetrate new geographies," Varun Beverages International Chairman Ravi Jaipuria said.
This is a follow-on investment of Standard Chartered Private Equity in Varun Beverages, wherein it had invested USD 48 million (Rs 250 crore) in July 2011 to accelerate the company's growth in its beverages business in India and overseas.
Varun Beverages is engaged in bottling, distribution and marketing of beverages, sold under the trademarks owned by PepsiCo Inc USA. It operates in India, Sri Lanka, Nepal and Morocco.
Besides Varun Beverages, Standard Chartered Private Equity over the last 18 months has invested in GMR Airports, Redington, Greenko, Privi Organics, Bush Foods, Innoventive Industries, Karaikal Port, Craftsman Automation and INOX India.
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