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Nov, 28 2014

Manpasand Beverages seeks Sebi's approval for Rs 400 crore IPO

The juice maker will use the funds raised for setting-up of a manufacturing facility in Haryana or Punjab, renovating plants in in Vadodara and Varanasi, setting-up of a corporate office at Vadodara, repayment of loans and general corporate purpose.

Manpasand Beverages, the Gujrat based fruit drink manufacturer is looking for sebi’s approval to raise Rs 400 crore IPO, according to a report published by the Economic Times.

According to the red herring draft submitted with Securities and Exchange Board of India (Sebi), Manpasand beverages would issue equity shares aggregating to Rs 400 crore.

The company is known for its ‘Mango Sip’ and apple and litchi juices amongst other and has three manufacturing facilities in Vadodara, Banaras and Dehradun.

The juice maker will use the funds raised for setting-up of a manufacturing facility in Haryana or Punjab, renovating plants in in Vadodara and Varanasi, setting-up of a corporate office at Vadodara, repayment of loans and general corporate purpose.

The company is also targeting revenue worth Rs 300 crore by the end of this year and over Rs 1,000 crore sales by 2016. 

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