Varun Beverages invests in solar power for Rajasthan facilities

Varun Beverages Limited (VBL) announced an investment of up to 26% of the equity share capital of Jager Renewables Two Private Limited, a special purpose vehicle (SPV) incorporated on June 6, 2024. This investment aims to obtain solar power for captive consumption at VBL's facilities in Kota, Alwar, Jaipur, Jodhpur, and Bhiwadi, Rajasthan. The transaction involves acquiring 2,600 equity shares of face value Rs. 10/- each, with an initial investment of Rs. 26,000/-.

Jager Renewables Two Private Limited operates under a group captive model as per the Electricity Act, 2003, generating and supplying solar power to consumers in Rajasthan. The investment is expected to reduce power costs and provide an environmentally friendly energy source for VBL's operations.

The acquisition is not classified as a related party transaction, and VBL's promoter group has no other interest in the acquired entity. The completion of this transaction is anticipated on or before June 2, 2026. Jager Renewables Two Private Limited has yet to commence operations, and historical turnover data for the past three years is not applicable.