Varun Beverages moves up on planning to invest Rs 412 crore in Bevco
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Varun Beverages is currently trading at Rs. 649.75, up by 1.35 points or 0.21 % from its previous closing of Rs. 648.40 on the BSE.
The scrip opened at Rs. 653.00 and has touched a high and low of Rs. 655.00 and Rs. 641.25 respectively. So far 23881 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 682.84 on 29-Jul-2024 and a 52 week low of Rs. 478.48 on 18-Jan-2024.
Last one week high and low of the scrip stood at Rs. 663.70 and Rs. 619.45 respectively. The current market cap of the company is Rs. 220034.86 crore.
The promoters holding in the company stood at 62.66%, while Institutions and Non-Institutions held 29.17% and 8.18% respectively.
Varun Beverages is planning to invest Rs 412 crore in its South African subsidiary Beverage Company Proprietary (Bevco). Bevco, an existing subsidiary of the company, is engaged in the business of manufacturing and distribution of licensed products from PepsiCo and also own-branded non-alcoholic beverages in South Africa. Besides, Bevco also has franchise rights from PepsiCo in South Africa, Lesotho and Eswatini.
Earlier, the company had acquired 39.93% of the issued and paid-up Equity Share Capital of Lunarmech Technologies (Lunarmech).
Varun Beverages is franchisee of CSDs and NCBs sold under trademarks owned by PepsiCo in India and internationally.
