The Investment and Borrowing Committee of the Board of Directors at its meeting held today considered and approved to invest upto 26% of Equity Share Capital of Jager Renewables Two Private Limited (a special purpose vehicle inter-alia engaged to generate & supply solar power to consumers in the state of Rajasthan) to obtain solar power for captive consumption.
VBL · price
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Varun Beverages has decided to invest up to 26% of the equity share capital of Jager Renewables Two Private Limited, a special purpose vehicle set up to generate and supply solar power to consumers in Rajasthan. The investment is aimed at sourcing solar power for the company's own operations (captive consumption). The decision was cleared by the company's Investment and Borrowing Committee at a meeting held on the same day. The exact monetary size of the investment is not disclosed in the announcement.
This move supports VBL's long-term goals of reducing energy costs and meeting sustainability/ESG commitments through renewable power. It is unlikely to have a meaningful immediate impact on stock price unless the deal value is material.