Ravi Jaipuria's bottle arm Varun Beverages to raise Rs.1,000 crore through IPO

Varun Beverages Ltd, the second largest PepsiCo. Inc. bottler in the world has started preparations for an initial public offering (IPO).

The soft drink bottle arm is planning to raise funds to expand in India nd also enter global market, reported Mint.

According to the report, the company may raise at least Rs.1,000 crore through the IPO, expected to hit the market in early 2017, said one of the three persons on condition of anonymity.

"Varun has hired a couple of banks recently and work on the IPO has been started. The company is also in talks to hire a couple of more banks," said a second person to the newspaper.