Revision of Exclusive Bottling Appointment and Trademark License Agreement with Pepsico Inc. as per details enclosed.

Strategic Transactions View source PDF Explain this filing

VBL · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reactionminutes from the announcement price · days from the prior close

+4.1%Reaction day

₹519.50

prior close

₹532.00

announcement price

After-mkt

timing

Nifty 100market · index membership as recorded later (tracked since Jun 2026)+0.3%+3.8% vs market

Beverages peers, median of 30sector · industry level-0.3%+4.4% vs sector

On the reaction day the stock moved 3.8 pts more than Nifty 100 and 4.4 pts more than its Beverages peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.0

10m

-0.6

15m

+0.4

30m

-0.3

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+4.1+0.3+3.8-0.3+4.4

Next day

+2.4+1.6+0.8+0.9+1.6

+2.4+1.3+1.1+0.9+1.5

+3.0+1.5+1.5+0.6+2.4

+2.1+0.0+2.0-0.2+2.3

+0.8-0.8+1.6-1.9+2.7

+2.8-0.8+3.6-2.0+4.8

15d

+3.9+1.3+2.7-0.4+4.3

-1.4+2.5-3.9+0.1-1.6

-11.1+1.9-13.0-4.4-6.7

-18.0+3.1-21.1-6.6-11.4

UpDownMarket · Nifty 100Sector · Beverages peers, median of 30Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Varun Beverages (VBL) has entered into a revised exclusive bottling and trademark license agreement with PepsiCo Inc. on May 21, 2026. The key changes include extending the agreement term by 10 years, from April 2039 to April 2049. Additionally, the restriction requiring VBL to operate solely as a special purpose vehicle (SPV) for PepsiCo's business has been removed. This revision provides VBL with greater operational flexibility while securing their exclusive bottling rights in India for nearly two more decades.

Likely market impact

This is a highly positive development for VBL shareholders as it extends their exclusive PepsiCo bottling rights by a decade and removes operational restrictions, potentially allowing future diversification. The long-term commitment from PepsiCo signals strengthened partnership confidence in VBL's operations.