Varun Beverages (VBL), which holds bottling and distribution franchise rights from Pepsico, is planning to raise $85 million (approx Rs 510.76 crore) equity to expand its organic and inorganic growth opportunities.

For the proposed expansion plan, the company intends to invest $300 million (approx Rs 1,802.7 crore), over the next 12 months. Of the total amount, it is planning to raise $85 million (approx Rs 510.76 crore) equity from International Finance Corporation (IFC) and from other investors, and the remaining will be financed through internal accruals.

The project comprises an expansion of the Pepsi bottling and distribution franchise business by Varun Beverages in India, Nepal, Sri Lanka, Morocco, Zambia, and Mozambique, as well as inorganic expansion.

The company manages PepsiCo bottling plants across India: Haryana, Western Uttar Pradesh, Rajasthan, Goa, and Delhi-NCR; and three bottling plants overseas: Nepal, Sri Lanka, and Morocco.