This multibagger is ready for its next round of value creation with a Rs 7,500 crore QIP

If your Dil Maange More returns, Varun Beverages is ready to deliver. As PepsiCo's largest bottling partner in India, this industry giant has been one of D-Street's top wealth creators over the past five years — and it seems its growth story is far from over. Recently, Varun Beverages announced plans to raise a substantial Rs 7,500 crore through a Qualified Institutional Placement (QIP) to reduce debt and invest in subsidiaries, joint ventures and existing operations. However, a closer look at its balance sheet and management commentary suggests it may be aiming for something even bigger than just deleveraging. Here's why. More than just deleveraging Varun Beverages has previously stated in several conference calls that it plans to bring its debt down to December 2023 levels, which means paying off around Rs 1,300 crore from the Rs 6,700 crore of debt currently on its balance sheet. But deleverag