Hong Kong: Varun Beverages Ltd has set a price range of Rs 440-445 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 October 26-28, the terms showed. The shares will start trading on or around November 8.
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