"Varun Beverages Plans ₹7,500 Crore QIP to Fund Expansion"

Varun Beverages Limited (VBL), a key franchisee of PepsiCo, announced its plan to raise up to ₹7,500 crore through a Qualified Institutions Placement (QIP). The funds will be used to fuel various initiatives, including investments in subsidiaries, joint ventures, and associates through equity or debt.

The capital raised will also support VBL’s business growth by expanding its product portfolio and pursuing strategic acquisitions. Additionally, the company aims to utilize a portion of the funds for debt repayment or prepayment for itself and its subsidiaries, along with general corporate purposes.

The exact allocation of the funds will be determined by the company’s Board of Directors or a designated committee. This move is seen as part of VBL’s broader strategy to strengthen its financial position and accelerate its growth plans. The QIP is pending approval from the company’s equity shareholders.

HBL