Private Equity-backed Manpasand Beverages Completes an IPO (Asia)
Source: Manpasand Beverages, VCCircle
India-based fruit drinks manufacturer Manpasand Beverages has listed on the Bombay Stock Exchange and the National Stock Exchange. The company floated its initial public offering (IPO) at a price range of INR290-INR320 per share (approximately US$4.56-US$5.00), raising a total of INR4 billion (approximately US$63 million). The IPO was oversubscribed by 40 percent. Manpasand Beverages is backed by venture capital firm SAIF Partners and Aditya Birla Private Equity’s Sunrise Fund, neither of which disposed of shares in the offering.