Varun Beverages settled at Rs 461.90 on BSE, a premium of 3.79% compared with the initial public offer price of Rs 445 per share on its debut on the bourses today, 8 November 2016.
Meanwhile, the S&P BSE Sensex, rose 132.15 points or 0.48% to settle at 27,591.14.
On BSE, 52.15 lakh shares were traded in the counter. The stock made its debut on the bourses at Rs 430, a discount of 3.37% compared with its initial public offer (IPO) of Rs 445 per share. The stock hit a high of Rs 471 and a low of Rs 417.10 in intraday trade.
The IPO of Varun Beverages saw moderate response from investors. The IPO was subscribed 1.86 times. The issue price was fixed at top end of the price band of Rs 440 to Rs 445 per share.
Promoted by Ravi Kant Jaipuria, Varun Beverages is one of the largest franchisee in the world (outside USA) of carbonated soft drinks (CSD) and noncarbonated beverages (NCB) sold under trademarks owned by PepsiCo. It produces and distributes a wide range of CSD as well as a large selection of NCB including packaged drinking water.
On a consolidated basis, Varun Beverages reported a 22.09% rise in net profit at Rs 213.50 crore on 13.34% growth in net sales to Rs 2529.70 crore in the six months ended June 2016 over the corresponding previous period.
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