Varun Beverages to raise $85 mn from IFC.

Varun Beverages Limited, one of the major bottling and distribution franchisees of PepsiCo, plans to invest about $300 million over the next 12 months to expand its business. Towards this, the company seeks to raise $85 million from International Finance Corporation (IFC) and a few other investors. Listing on the bourses is also on the cards.

The $300-million investment will be deployed across the firm's existing business in India, Nepal, Sri Lanka, Morocco, Zambia and Mozambique as well as acquiring companies over the next one year.

IFC said its involvement would bring in discipline and credibility to the company as it prepares for a public listing.

BS