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November 25, 2015 7:53 PM ET

Food and Staples Retailing

Company Overview of Varun Beverages Limited

Company Overview

Varun Beverages Limited provides bottling and distribution services for beverage manufacturers. The company manufactures and markets carbonated and non-carbonated soft drinks and package drinking water under the Pepsi brand. The company's beverage portfolio also includes 7up, Miranda, and Mountain Dew brands; low calorie drinks such as Diet Pepsi; hydrating and nutritional beverages such as Aquafina drinking water; and juice based drinks such as Tropicana, Slice, and Twister. The company also offers local soda brands. It owns franchisee for Yum Restaurants International including Pizza Hut and KFC. The company was incorporated in 1995 and is based in Gurgaon, India with additional offices in...

Plot No. - 31

Institutional Area


Gurgaon,  122002


Founded in 1995


91 12 4464 3400


91 12 4464 2203

Key Executives for Varun Beverages Limited

President, Chief Executive Officer, Director, and Member of Investment Committee
Age: 53
Compensation as of Fiscal Year 2015.

Varun Beverages Limited Key Developments

Ravi Jaipuria To Raise $300 Million Through IPO Of Two Firms

Ravi Jaipuria plans to raise $300 million through initial public offerings (IPOs) of Devyani International Ltd. and Varun Beverages Limited by the end of 2016. Proposed IPOs would help RJ Corp Limited (RJ Corp) to support estimated $600 million investment in two companies for expansion through the next few years, Ravi Jaipuria said. He also added, promoters intend to dilute about 10% stake in each of the companies through the IPOs and two RJ Corp entities had to be scaled up, which would need more funds and professionals. "IPOs will be the best way to stabilise businesses," Ravi Jaipuria said. Meanwhile, Jaipuria is also talking to PE investors to raise $100 million -$125 million for about 10% equity stake in Varun Beverages in a pre-IPO deal. "We hope to close this by the end of December," he added. Devyani International is likely to be valued at about $1 billion when it goes public. "About 10 per cent of the promoters' equity stake will be offered during the IPO in 2016," Ravi Jaipuria said. "Through the next two-three years, we will expand all our businesses, both existing operations and through acquisitions," he said, adding he would be interested in taking over Yum! Brands' businesses in west and south India. "We are open, and we'll talk to them. We already have the rights in the north and the east. National rights will certainly make sense," he added. "For fast food and beverages, we will be expanding in India, the African continent and the Saarc (South Asian Association for Regional Cooperation) region," he said. For expansion, Varun Beverages is eyeing new markets such as Zimbabwe and Bhutan.

Varun Beverages And Devyani International May get Listed

Ravi Jaipuria is planning to launch an IPO (Initial Public Offering) for Varun Beverages Limited and Devyani International Ltd., held by RJ Corp Limited in 2015. Ravi Jaipuria has not specified the amount he is looking to raise, but said that this is the right time to tap the capital markets. Balaji Wafers Pvt. Ltd., Manpasand Beverages Ltd, and Cafe Coffee Day are also eyeing possible listing. While CavinKare Pvt. Ltd.’s promoter, C K Ranganathan said that the timing is right to step into the capital market, he said that he is not looking to list his firm. The official stated, “At least not for the next three years. We raised money last year from ChrysCapital and at the moment we are sufficiently funded.” Dhirendra Singh, Chairman and Managing Director, Manpasand Beverages, said that the need for capital coupled with the desire to give existing investors, SAIF Partners, an exit route is what prompted his decision to consider an IPO. “We have appointed Kotak Mahindra Capital and India Infoline to manage the issue. The IPO should be out in about six to eight months,” he said.

Varun Beverages Mulls Acquisitions

Varun Beverages Limited is planning to spend around $300 million for the expansion of its existing business in Asia and Africa including India, Nepal, Sri Lanka, Morocco, Zambia and Mozambique in the next one year. The investment plan also includes acquisition of companies, and would raise the company's employment strength from 4,200 to about 8,000 over the next few years in South Asia and Africa.

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