VRB Consumer Products Pvt., the maker of Veeba-branded sauces and condiments, has begun preparations for an initial public offering that could raise as much as $200 million, according to people familiar with the matter.
The company, formerly known as Veeba Food Services Pvt., has hired Axis Capital Ltd., Motilal Oswal Investment Advisors Ltd. and Jefferies Financial Group Inc. to advise on the share sale, the people said, asking not to be identified because the discussions are private.
The offering is expected to include a combination of new share issuance and a sale of existing stock by investors, and could take place this year, the people said. Deliberations are ongoing and details including the size of the offering could change, the people said. Representatives for VRB and the banks didn’t immediately respond to requests for comment.
Indian companies have raised about $2.5 billion through IPOs so far this year, compared with roughly $22 billion in all of 2025, according to data compiled by Bloomberg.
Company details
Founded in 2013 by Viraj Bahl, the company manufactures and markets food and beverage products globally, including sauces, condiments, syrups and beverages under a portfolio of brands. VRB Consumer reported revenue of about 10.3 billion rupees ($110 million) for the financial year ended March 31, 2025, according to data provider Tracxn.
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