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Varun Beverages fixes IPO price band at Rs 440-445 per share

Press Trust of India  |  Mumbai 

Varun Beverages today announced the price band at Rs 440-445 per equity share for its Rs 1,100 crore initial public offer, opening next Wednesday, through which the bottler aims to dilute close to 14 per cent of the promoters' stake.

At the upper-end of the price band, the company will be able to raise Rs 1,100 crore through the initial share sale.


The IPO constitutes 13.74 per cent of the post-offer paid-up equity share capital and the net offer will constitute 13.47 per cent of the post-offer paid-up equity share capital, the company said here.

Varun Beverages is proposing to offer up to 2.5 crore equity shares of Rs 10 each and a fresh issue of up to 1.5 crore equity shares, apart from an offer for sale of up to 50 lakh shares by promoter Varun Jaipuria and an equal number of equity shares by another group of promoters Ravi Kant Jaipuria & Sons.

The offer opens on October 26 and closes October 28, the company said adding that the bids can be made for a minimum of 33 shares and in the multiples of 33 shares thereafter.

The global coordinators and book running lead managers to the offer are Kotak Mahindra Capital Company, Axis Capital and CLSA India, while Yes Securities is the book running lead manager to the issue.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, October 19 2016. 19:42 IST
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