Tata to buy Bisleri for ₹7,000 crore: Report
Tata Consumer Products Ltd is set to buy Bisleri International for ₹7000 crore, according to Bisleri International’s chairman Ramesh Chauhan.
Tata Consumer Products Ltd was the top gainer among Nifty50 stocks on Thursday (November 24). The company’s stocks rose over 2.5 per cent in early trade.
The fast-moving consumer goods company, a part of the Tata Group, sells packaged drinking water under the brand Himalayan.
The deal between Tata Consumer Products Ltd and Bisleri, if finalized, will provide the Tata Group’s FMCG arm, a strong hold on the fast-growing bottled water business, said multiple reports.
According to a report from TechSci, a research-based management consulting firm, the bottled water market in India was valued at over $2.43 billion in FY21.
The market is expected to grow at a rate of 13.25 per cent, considering the rising health and hygiene awareness, increasing product innovation and increasing disposable income, suggests the report.
“Bottled water is gaining popularity among consumers because it is thought to be more hygienic than loose normal water in the market, which is not good for health and is unsafe to drink,” read the report.