Manpasand Beverages to set up two new facilities

Indian beverage maker company Manpasand Beverages Pvt Ltd (MBPL) today said it will set up two new manufacturing facilities in Vadodara and in Karnataka to meet growing demand for its products.
"We had initially focused tier-II and tier-III cities, which is our target market. There is still a great supply gap in those markets and that is why we are setting up two more facilities in north and south India," Chairman & Managing Director of the company Dhirendra Singh told PTI.
To meet the international demand, the company is also setting up a facility in Dubai, he said.
"The company has currently undertaken a capital expenditure of Rs 100 crore, doubling its capacity from 60,000 cases per day," Singh said.

The new facilities will help the company in increasing its national reach through partners and franchises, he said, adding, they are now looking at capturing rural market across the country.
"We are eyeing a sales target of Rs 1,000 crore by FY' 2016. We have already surpassed Rs 300 crore sales for brand 'Mango Sip' in the last fiscal year," he said.

The company also plans to launch its Initial Public Offer (IPO) in the market this year.
"For the purpose we have mandated investment banks Kotak Mahindra Capital Company and India Infoline to manage the issue. And are looking to raise Rs 400 crores through it," Singh said.

Currently, the beverage maker has its manufacturing units in Vadodara, Varanasi and Dehradun.