Ravi Jaipuria’s Varun Beverages gets Rs 600 Crore funding

Singapore-based Aion Investments has invested Rs 600 crore in Ravi Jaipuria (RJ)-led Varun Beverages Ltd (VBL), the largest bottler of beverages major PepsiCo in India. As a part of its investments, VBL will receive Rs 300 crore, which the bottler will use in refinancing its existing debt and expansion of its operations, in exchange of non-convertible debentures to Aion. Aion will invest the rest for acquiring compulsorily convertible debentures from the existing investors of VBL.

"Aion is extremely pleased to partner the RJ Corp Group, which has over four decades of experience in the Indian consumer sector. This is reflected in VBL's strong record of growth that has made it the largest franchisee bottler in India," Parth Gandhi, Managing Director at Aion said.

VBL bottles, distributes and sells soft drink beverages such as Pepsi, 7UP, Mirinda and Mountain Dew in 13 states in the country, apart from Sri Lanka, Nepal and Morocco.

"I am delighted to extend a warm welcome to Aion, which now becomes the largest external investor in Varun Beverages Limited, the flagship company of the RJ Corp Group. Aion's investment will enable VBL to further accelerate its growth plans", Ravi K. Jaipuria, Chairman of Varun Beverages Limited said.