Varun Beverages Ltd, the world’s second largest PepsiCo Inc. bottler, has received approval from the stock market regulator for an initial public offering (IPO) of over Rs.1,000 crore. The company, the flagship firm of Delhi-based billionaire Ravi Jaipuria, had filed its so-called draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) on 21 June.
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