Varun Beverages has received an approval to acquire 5.03% of the issued and paid-up Equity Share Capital of Lunarmech Technologies (i.e. subsidiary of the Company) for Rs 10 crore. The company holds 55.04% of the Equity Share Capital of Lunarmech.
Post-acquisition, the company will hold 60.07% of the Equity Share Capital of Lunarmech. The Investment and Borrowing Committee of the Board of Directors of the company at its meeting held on October 16, 2023, considered and approved the same.
Varun Beverages is franchisee of CSDs and NCBs sold under trademarks owned by PepsiCo in India and internationally.
