Inner Mongolia Yili Industrial Group has announced its plans to raise CNY9bn ($1.33bn) in a private placement of shares.

Yili plans to use the funds from the offering to acquire a 37% interest in China Shengmu Organic Milk, an organic milk producer.

Varun Beverages plans to raise Rs11.12bn ($166.31m) through an initial public offering of 25 million shares priced between Rs440 ($6.57) and Rs445 ($6.65) each.

Based in India, Varun Beverages is a bottler and distributor of aerated beverages for PepsiCo. The company plans to use the funds from the offering to expand its bottling business in markets such as North Africa.