Jayanti Chauhan, daughter of Bisleri International chairman Ramesh Chauhan, will head the bottled water agency now that Tata Consumer Products Ltd (TCPL) has withdrawn from the purchase process, The Economic Times pronounced on March 20.
"Jayanti will run the agency with our expert group and we do now no longer need to promote the commercial enterprise," Bisleri chairman Ramesh Chauhan stated, as quoted with the aid of using ET.
Jayanti Chauhan, 42, is presently the vice chairperson on the agency that her father promoted and built.
According to humans with expertise of the matter, she can be able to paintings with the expert control group led with the aid of using Angelo George. The 82-12 months-antique Chauhan offered the logo to the Tata Group in advance this 12 months for an predicted Rs 7,000 crore. The address India`s biggest bottled water logo become cancelled with the aid of using Tata Consumer due to "indecisiveness," ET pronounced on March 18.
There have been no disagreements approximately valuation, they stated. According to analysts, the promoters might also additionally extrade their minds withinside the future. "Let us wait and watch," one in every of them advised ET. "We are positive that fascinated shoppers will maintain to watch for an possibility to shop for the logo," he added.
Tata Consumer had reportedly started negotiations with the Chauhan own circle of relatives years in the past however referred to as off negotiations closing week. Jayanti has been concerned with the commercial enterprise periodically over the years. The Vedika logo, a part of Bisleri's portfolio, has been her consciousness in latest years.
Reportedly, the Tata Group had long gone to notable lengths to guarantee Chauhan that Bisleri's legacy could maintain below the Tata Group. "But we needed to in the end name off this fence-sitting," one of the reassets advised ET.
Due to early summer time season and an boom in out-of-domestic demand, packaged drinks have grown in excessive double digits.
Sunil D'Souza, Tata Consumer's handling director, said on latest income calls that acquisitions continue to be a center a part of the agency's increase strategy. "The agency will now consciousness on constructing its current bottled water portfolio of Himalayan, Tata Copper Plus Water and Tata Gluco," one of the executives mentioned above advised ET. The agency "has now no longer entered into any definitive settlement or binding dedication with Bisleri International," the fast-shifting client goods (FMCG) arm of the Tata Group stated on March 17 in an change filing.
"The agency needs to replace that it has now ceased negotiations with Bisleri with reference to a capability transaction and to verify that the agency has now no longer entered into any definitive settlement or binding dedication in this matter," it added.
It can be recalled, whilst Coca-Cola re-entered into the Indian marketplace in 1993, it had obtained Thums Up, Gold Spot, Citra, Maaza, and Limca owned with the aid of using Chauhan. Thums Up nevertheless dominates the Indian gentle drink marketplace with a proportion of approximately 20 percent, a long way beforehand of world opponents Coke and Pepsi, the file stated.