Varun Beverages shares are in focus following the incorporation of White Peak Refrigeration Pvt Ltd, a joint venture for manufacturing visi-coolers and refrigeration equipment. VBL also announced an investment in Jager Renewables Two Pvt Ltd to acquire up to 26% equity for solar power supply to its Rajasthan facilities.
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Shares of Varun Beverages Ltd (VBL) are likely to be in focus on Friday, September 5, following the company’s update regarding the incorporation of a joint venture entity, White Peak Refrigeration Pvt Ltd, in India.
In a regulatory filing, VBL confirmed that it has incorporated the joint venture company to undertake the business of manufacturing visi-coolers and other refrigeration equipment.
“With reference to the above-mentioned subject, We would like to confirm that our Company has today incorporated a joint venture company in India i.e. White Peak Refrigeration Private Limited, inter-alia to carry on the business of manufacturing of visi-coolers and other refrigeration equipments etc,” the company said in its exchange filing.
Separately, a day earlier, VBL had also informed the stock exchanges about an investment approval by its Investment and Borrowing Committee to acquire up to 26% equity in Jager Renewables Two Pvt Ltd , a special purpose vehicle incorporated to supply solar power to consumers in Rajasthan.
The board-level committee approved an initial investment of Rs 26,000 for 2,600 equity shares at Rs 10 each.
The target entity, Jager Renewables, was incorporated in June 2024 and is yet to commence operations.
The proposed investment is aimed at enabling Varun Beverages to source captive solar power for its facilities in Kota, Alwar, Jaipur, Jodhpur, and Bhiwadi. The company noted that the transaction is expected to be completed by or before June 2, 2026, and does not involve any related party transaction.
The shares of Varun-Beverages closed 3.11% low at Rs 489.45 on the BSE on Thursday.