Varun Beverages IPO

Varun Beverages Ltd (VBL), the leading bottler of PepsiCo, on Thursday announced to invest Rs 412 crore in its South African subsidiary Beverage Company Proprietary (Bevco). Bevco, an existing subsidiary of our VBL, is engaged in the business of manufacturing and distribution of licensed products from PepsiCo and also own-branded non-alcoholic beverages in South Africa. Besides Bevco also has franchise rights from PepsiCo in South Africa, Lesotho and Eswatini. The company has "invested Rs 412.80 crore by subscribing Ordinary Shares of its subsidiary company i.e. The Beverage Company Proprietary Limited, South Africa," VBL said in a regulatory filing. Bevco allotted 19.84 lakh ordinary shares to VBL and this fresh investment will result in an incremental share capital of 2.42 per cent, according to a disclosure by the company. It will also help "Bevco to repay its existing debt and strengthen balance sheet for business growth," BVL added. Promoted by the Jaipuria family, VBL accou

Consolidated revenue from operations in the first quarter stood at Rs 4,397.98 crore as against Rs 3,952.59 crore in the year-ago period, it added

Consolidated net profit rose to Rs 132 cr ($15.9 million) for the fourth quarter ended Dec. 31, compared with Rs 74.75 crore rupees in the year-ago period

Energy drink Sting help drive realisations of Pepsi bottler in Q3CY22

The startup held talks with several potential SPAC partners and is farthest along in working out an agreement with Michael Klein's Churchill Capital

The shares touched a high of Rs 471 and a low of Rs 417 on the BSE

Company is one of the largest franchisees in the world (outside USA) of carbonated soft drinks (CSDs) and non-carbonated beverages (NCBs) for PepsiCo