Announced Tue, 25 Aug · 16:21 IST
VBL to set up India subsidiary for alcoholic beverages and JV in Tunisia
VBL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-4.1%1-day move
₹438.00
prior close
₹447.90
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-3.2-4.5-5.0-3.9-4.1-5.7-8.6-6.9-5.3-6.9————
Up moveDown movePending
AI summary
Board approved incorporating a wholly-owned subsidiary KIVA Spirits and Company Limited in India for RTD and alcoholic beverages, with paid-up capital of Rs 9 crore. Mr. Prathmesh Mishra (ex-Diageo) appointed as CEO and MD. Also approved a JV in Tunisia, Varun Beverages Tunisia SA, with Bevanda holding 25% and VBL 75%, share capital TND 9 million, for producing and distributing beverages.
Likely market impact
Diversification into alcoholic beverages in India and entry into a new geography signals VBL's growth push into new segments and markets.