Tata Consumer Products in talks to acquire bottled water major Bisleri for Rs 7,000 crore

Ramesh Chauhan, founder and chairman of Bisleri International Pvt Ltd, which owns India's largest selling bottled water brand Bisleri, today confirmed that the bottled water giant is in talks with Tata Consumer Products to sell part stake in the company. However, no agreement has been signed till now as  negotiations are still on. Chauhan asserted that the family is not looking to sell entire stake in the company, but the sale of a part of the stake, which could be majority or a significant minority is being discussed with Tata.

The shares of the Tata Consumer rose 3.1 percent on Thursday on the news. The stock was trading 2.4 percent higher at Rs 788.9 on BSE at 9:33 am.

Chauhan told CNBC-TV18 that the company is being valued at Rs 6,000 to Rs 7,000 crore for the deal and added that the culture of the company buying the stake is more important than the valuation. Bisleri is in talks with other companies as well, apart from Tata Consumer, for the stake sale, however, Chauhan refused to reveal the names. "We are in discussions with Tatas, other players are there in the fray, but cannot share."