Varun Beverages, franchisee for soft drinks maker PepsiCo, on Wednesday filed preliminary papers with Sebi for an IPO to raise over Rs1,000 crore. The IPO entails sale of up to 2.5 crore shares, including fresh issue of 1.5 crore shares and offloading of stake by promoters.
The compoany has filed the draft red herring prospectus with the Sebi, it said in a release. Sources said Varun Beverages expects to raise more than Rs1,000 crore through the Initial Public Offer. Apart from fresh issue of 1.5 crore equity shares, there would be offer for sale of up to 5,000,000 shares each by Varun Jaipuria and Ravi Kant Jaipuria & Sons (HUF), the release said.