Varun Beverages gets nod to invest in Aspirative Creative Ventures

Varun Beverages has received approval for investing upto 14% of Equity Share Capital of Aspirative Creative Ventures, a special purpose vehicle inter-alia engaged to supply solar power to consumers in the state of Uttar Pradesh.   

VBL intends to obtain solar power (generation and supply) from the Company for its facility located in Gorakhpur, Uttar Pradesh. Solar power is environment friendly and will also reduce the power costs at the Gorakhpur facilities. Accordingly, as per the Electricity Act, VBL being the captive user, is required to make an investment in the Company. The completion of the transaction is expected on or before December 9, 2024. Rs 2.24 will be allocated towards subscribing 11,20,000 equity shares of face value Rs 10 each, along with a premium of Rs 10 per share. The Investment and Borrowing Committee of the Board of Directors at its meeting held on April 10, 2024 has considered and approved the same. 

Varun Beverages is franchisee of CSDs and NCBs sold under trademarks owned by PepsiCo in India and internationally.

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