Varun Beverages added 1.46% to Rs 576.10 after the company's board has approved the opening of qualified institutional placement (QIP) of equity shares with the floor price of Rs 594.56 per share.
The floor price of Rs 594.56 is at a premium of 4.71% to the previous day's closing price of Rs 567.80 on the BSE.The company stated that it may offer a discount of not more than 5% on the floor price so calculated for the issue.
The issue price will be determined by the company in consultation with the book running lead managers appointed for the issue.
Varun Beverages is a key player in beverage industry and one of the largest franchisees of PepsiCo in the world (outside USA). As on date, VBL has been granted franchises for various PepsiCo products across 27 States and 7 Union Territories in India. VBL has also been granted the franchise for various PepsiCo products for the territories of Nepal, Sri Lanka, Morocco, Zambia and Zimbabwe.
The company had reported 23.7% jump in consolidated net profit to Rs 619.61 crore on 24.1% rise in revenue from operations (excluding excise duty) to Rs 4,804.68 crore in Q3 CY25 over Q3 CY24.
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