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Informist, Wednesday, Mar. 11, 2026

NEW DELHI – Varun Beverages Ltd. Wednesday said its board has approved the acquisition of an additional 23% stake in Jager Renewables Two Pvt. Ltd. for a cash consideration of INR 70.5 million. The company's board also approved the issuance of a corporate guarantee worth 1.24 billion South African rand, or about INR 6.96 billion, in favour of FirstRand Bank Ltd. for the company's subsidiary The Beverage Co. Proprietary Ltd.

The holding of Varun Beverages in Jager Renewables will rise to 49% after the latest transaction involving 7.05 million shares, the soft drink maker told the stock exchanges in a filing. The company intends to obtain solar power from Jager Renewables for its facilities in Kota, Alwar, Jaipur, Jodhpur, and Bhiwadi, all in Rajasthan.

Jager Renewables is a special purpose vehicle that was incorporated in 2024 as part of the group captive model under the Electricity Act, 2003, to generate and supply solar power in Rajasthan. It is yet to begin operations.

For the December quarter, Varun Beverages had, on a consolidated basis, reported a net profit of INR 2.52 billion on a revenue of INR 43.35 billion. Wednesday, its shares closed 1.2% lower at INR 431.25 on the National Stock Exchange.  End

Reported by Shakshi Jain

Edited by Rajeev Pai

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