Bisleri chairman Ramesh Chauhan confirms part stake sale talks with Tata Group
Tata Consumer Products is set to acquire India’s largest packaged drinking water company, Bisleri, for an estimated Rs 6,000-7,000 crore.
Bisleri International had an annual revenue of Rs.2,500 crore, the latest full financial year with a profit of approximately Rs.220 crore, and also sells spring water under the brand Vedica. The company also marks its presence in the soft beverages segment with Spyci, Limonata, Fonzo, and Bisleri Soda.
Ramesh Chauhan, founder, and chairman of Bisleri International Pvt Ltd confirmed that the bottled water giant is in talks with Tata Consumer Products to sell part stake in the company.
Chairman Ramesh Chauhan is aiming to disinvest Bisleri International to Tata Consumer Products three decades after selling soft drink brands Thums Up, Gold Spot, and Limca to Coca-Cola.
Chauhan asserted that the family is not looking to sell the entire stake in the company, but the sale of a part of the stake, which could be a majority or a significant minority is being discussed with Tata.
After the news broke, shares of Tata Consumer saw a surge of 3.1 percent. The stock was trading 2.4 percent higher at Rs.788.9 on BSE at 9:33 am.
Tata Consumer clarified in an exchange filing: “The company evaluates various strategic opportunities for growth and expansion of the business of the company, on an ongoing basis. Pursuant to this, the management of the company remains in discussions with various parties, including Bisleri International Private Limited.”
It added that the company will make appropriate announcements when any such requirement arises.
[With Inputs from IANS]
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