Ramesh Chauhan had been in talks with Tata Group’s FMCG arm, Tata Consumer Products Ltd (TCPL), for nearly four months, but the deal fell through.

New Delhi: Veteran industrialist Ramesh Chauhan said on Monday that he has no plans to sell his packaged water company Bisleri International and is not in talks with any interested parties, three days after Tata Consumer Products Ltd called off their talks.

Ramesh Chauhan had been in talks with Tata Group FMCG arm, Tata Consumer Products Ltd (TCPL), for nearly four months, but the deal fell through.

When asked if he plans to sell Bisleri now, Mr. Chauhan told PTI, “We have no plans.” When asked about a media report that his daughter Jayanti Chauhan is ready to lead the company, the 82-year-old pioneer of the Indian packaged water industry declined to comment.

Earlier this year, Mr. Chauhan stated that he was in talks with several parties, including TCPL, to sell his Bisleri business.

When asked about the reasons for Bisleri’s business sale, the octogenarian business leader stated that someone had to handle it and look into it.

Mr. Chauhan added that his daughter Jayanti is uninterested in running the business.

Bisleri International Spokesperson later stated in a media statement, “We are currently in discussion and cannot disclose further.” However, TCPL stated in a regulatory update last week that it has not entered into any agreements regarding the acquisition of Bisleri, putting the speculation about a possible acquisition to rest.

“The company wishes to update that it has now ceased negotiations with Bisleri regarding a potential transaction and to confirm that the company has not entered into any definitive agreement or binding commitment on this matter,” TCPL said.

Bisleri International is a bottled water company that produces Bisleri and Vedica spring water. It’s also in fizzy drinks like Spyci, Limonata, Fonzo, and PinaColada.

Chauhans sold their soft drinks business to The Coca-Cola Company in the United States three decades ago. In 1993, he transferred Thums Up, Gold Spot, Citra, Maaza, and Limca to the Atlanta-based firm.

Tata Chemicals’ consumer products business was merged with Tata Global Beverages to form TCPL. It has made some acquisitions and is expanding its addressable market reach as it strives to be a formidable player in the FMCG category by expanding its play into existing categories and venturing into new ones.

With its Himalayan brand, TCPL is already present in the bottled water segment. Furthermore, it is present in the hydration segment through Tata Copper Plus Water and Tata Gluco.