Varun Beverages sets 440-445 rupees/share range for IPO

Last Updated: Wed, Oct 19, 2016 11:15 hrs
A man looks at a screen across the road displaying the Sensex on the facade of the Bombay Stock Exchange building in Mumbai

HONG KONG - Varun Beverages Ltd has set a price range of 440-445 rupees each for its planned initial public offering (IPO), which is targeting to raise between $165 million and $167 million, according to a term sheet of the deal obtained by IFR.

Varun Beverages is offering up to 25 million shares, comprising 15 million primary and the rest secondary shares, representing 13.7 percent of the expanded capital, the terms showed.

The company will have a market value of about $1.2 billion after the IPO, which will be open for subscription between Oct. 26-28, the terms showed. The shares will start trading on or around Nov. 8.

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