Varun Beverages erases early losses, up nearly 4% at close

Paring early losses, shares of Varun Beverages, PepsiCo's largest franchise bottler, ended nearly 4 per cent higher from the issue price of Rs 445 in its debut trade today.
The stock ended the day at Rs 461.90, up 3.79 per cent, on BSE. Intra-day, it surged 5.84 per cent to Rs 471. Earlier, it debuted at Rs 430, down 3.37 per cent.
Post-noon buying helped the stock make a comeback.
At NSE, shares of the company settled at Rs 459.50, a gain of 3.25 per cent.
The company commands a market valuation of Rs 8,404.34 crore.
In terms of volume, 52.15 lakh shares of the company were traded on BSE and over 1 crore at NSE.

It had fixed the price band at Rs 440-445 per share.

The Rs 1,112.50-crore IPO of Varun Beverages was subscribed 1.86 times during October 26-28.
The issue was managed by Kotak Mahindra Capital Company, Axis Capital, CLSA India and YES Securities (India) Ltd.
In the broader market, the BSE Sensex ended 132.15 points higher at 27,591.14.