Varun Beverages Limited (VBL), the leading bottler for PepsiCo, has acquired a 39.93% stake in Lunarmech, making the company a wholly-owned subsidiary effective from December 16, 2024. This strategic acquisition was announced via an exchange filing on Monday.
“We would like to inform that today (01:47 P.M. IST) our Company has acquired 39.93% of the issued and paid-up Equity Share Capital of Lunarmech and accordingly, it has become wholly-owned subsidiary of our Company w.e.f. December 16, 2024,” Varun Beverages stated.
Financial Performance:
In the recent quarter, Varun Beverages reported:
- Revenue: ₹3,086 crore (vs ₹5,801 crore)
- Net Profit: ₹492.34 crore (vs ₹1,150.14 crore)
- EPS: ₹1.52 per share
Fundraising Plans:
Varun Beverages had earlier announced plans to raise ₹7,500 crore through a Qualified Institutional Placement (QIP) route to fund its growth initiatives. The QIP opened on November 13, 2024, following shareholder approval.
Disclaimer: The information provided is for informational purposes only and should not be considered as financial or investment advice. Always consult a financial advisor before making investment decisions.
