Varun Beverages Ltd (VBL) disclosed on its NSE filing that it will invest up to ₹4.10 crore to acquire up to 26% equity in Jager Renewables, a special purpose vehicle formed to generate and supply solar power in Uttar Pradesh. The board approved the deal on October 7, with the transaction slated to close by October 6, 2027.
The company said the solar project will secure captive power for its Gorakhpur and Prayagraj plants and any future UP facilities, potentially cutting electricity bills and providing a greener energy mix. Jager Renewables, incorporated in September 2020, has yet to commence operations but is positioned to meet the growing demand for renewable power in the state.
Shares of Varun Beverages ended 0.33% higher at ₹440.70 on the NSE, up from ₹440.20 earlier in the session. The stock has climbed 8.6% over the last month but remains down 10.4% year‑to‑date, reflecting broader market volatility around energy costs.
Looking ahead, VBL expects the investment to improve its power procurement mix and could pave the way for future green projects. Analysts note that the company’s 8.6% monthly gain signals investor optimism, but the 10.4% YTD decline underscores caution amid rising fuel prices and regulatory shifts.