Varun Beverages Limited (VBL), one of India’s leading beverage companies and a key bottling partner of PepsiCo, has announced that its Investment and Borrowing Committee has approved the acquisition of up to 26% equity in Jager Renewables Two Private Limited.
Jager Renewables Two is a special purpose vehicle (SPV) incorporated on June 6, 2024, under the group captive model as per the Electricity Act, 2003. The company has been set up to generate and supply solar power to consumers in Rajasthan. Though the operations are yet to begin, the SPV is expected to play a crucial role in enabling VBL to meet its renewable energy needs.
Through this investment, Varun Beverages aims to source solar power for captive consumption at its facilities in Kota, Alwar, Jaipur, Jodhpur, and Bhiwadi. The company believes this move will not only reduce power costs but also strengthen its commitment towards sustainability by shifting to clean and environment-friendly energy sources.
As part of the initial investment, VBL will subscribe to 2,600 equity shares of face value ₹10 each amounting to ₹26,000 in Jager Renewables Two. The investment will be made in one or more tranches through cash consideration, and the entire transaction is expected to be completed by June 2, 2026.
The acquisition does not fall under related party transactions, and neither VBL’s promoters nor group companies hold any prior interest in the target entity. Once the deal is completed, Varun Beverages will hold up to 26% equity stake in Jager Renewables Two.
