- By Priyanka Payal
- Tue, 21 Mar 2023 03:39 PM (IST)
- Source:JND
DAYS after the Tata Group called off its plan to acquire Bisleri International, various media reports have suggested that now Jayanti Chauhan, the 42-year-old daughter of Bisleri International chairman Ramesh Chauhan will lead the bottled water company.
On Monday, Ramesh Chauhan told the Economic Times (ET) that now his daughter Jayanti will run the company. He reiterated that the company does not intend to sell the bottled water business. Jayanti is expected to work with a team headed by chief executive Angelo George.
Notably, Jayanti Chauhan currently serves as the vice chairperson of the company and she is involved with the business over the years.
In November last year, Bisleri entered into talks with Tata Consumer Products (TCPL), a subsidiary of the Tata Group to sell a majority stake in the company for Rs 6,000-7,000 crore. According to the company, the deal was expected to be completed in the next '7-8 months'. However, last week TCPL said that it had ceased talks with Bisleri concerning a potential transaction and it "has not entered into any definitive agreement or binding commitment on this matter."
According to sources familiar with the matter, the talks between Bisleri and Tata Consumer Products fell apart due to prolonged negotiations, the inability to reach a deal structure, and difficulty in obtaining data from Bisleri.
It is speculated that since now Tata has withdrawn its buyout plan, the group will likely build the distribution organically. Besides, the speed at which Tatas’ own beverage business is growing, it is not a challenging task for the company to reach Bisleri’s size within a few years from now.
Meanwhile, during today’s intraday trading session, the share price of Tata Consumer Products Ltd was spotted trading 0.26% lower at Rs.700.80 per piece.
The Indian benchmark indices Benchmark and Nifty were trading in green today at the time of writing this article. Sensex was up 0.77% at 58,074.68 points, while Nifty was 0.70% higher at 17,107.00 points during the intraday trading session.