Varun Beverages To Use IPO Proceeds To Cut Debt

New Delhi: PepsiCo India's largest franchise bottling partner Varun Beverages, which is coming out with an IPO to raise Rs 1,113 crore, plans to use a major portion of the proceeds to retire its debts. The initial public offer of Varun Beverages - which entails sale of up to 2.5 crore shares - will open on Wednesday. The company has fixed the price band at Rs 440-445 per share. At the upper end, the RJ Corp group company would rais...