Varun Beverages to Acquire 26% Stake in Jager Renewables for Solar Power

Varun Beverages Limited (VBL) has approved an investment of up to 26% in Jager Renewables Two Private Limited. As per the exchange filings, the decision was taken at a meeting of the company’s Investment and Borrowing Committee held on September 3, 2025.

Objective of Investment

The acquisition is intended to source solar power for captive consumption at VBL’s manufacturing facilities located in Kota, Alwar, Jaipur, Jodhpur, and Bhiwadi in Rajasthan. As per the Electricity Act, 2003, captive users are required to invest in the generating entity to avail power under the group captive model.

About Jager Renewables

Jager Renewables Two Private Limited was incorporated on June 6, 2024. It is a special-purpose vehicle formed to generate and supply solar power in Rajasthan under the group captive framework. The company is yet to begin its operations.

Transaction Structure

Reports suggest that the acquisition will be carried out through cash consideration. VBL will acquire 2,600 equity shares of Jager Renewables, each with a face value of ₹10, amounting to ₹26,000 in equity investment. The investment will be made in one or more tranches. Once completed, VBL will hold up to 26% of the equity share capital in Jager Renewables.

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Timeline and Compliance

The transaction is expected to be completed on or before June 2, 2026. No regulatory or governmental approvals are required for this acquisition. The transaction does not qualify as a related-party arrangement, as confirmed by the company.

Varun Beverages Share Price Performance 

As of September 4, 2025, 09:46 AM, Varun Beverages share price was trading at ₹500.70, a 0.90% decrease from the previous closing price.

Conclusion

Through this proposed stake purchase, Varun Beverages will secure a solar power supply for its Rajasthan facilities while meeting the requirements of the captive model.

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