Varun Beverages to form two new subsidiaries in India and Tunisia
Varun Beverages Ltd announced its Board of Directors has approved the incorporation of two wholly-owned subsidiaries. The first, KIVA Spirits and Company Limited, will be established in India with a proposed authorized share capital of ₹10 Crore and paid-up capital of ₹9 Crore, focusing on Ready to Drink (RTD), Alcoholic Beverages, and allied products. The second, Varun Beverages Tunisia SA, will be set up in Tunisia with a proposed share capital of TND 9 Million, to produce and distribute beverages including soft drinks, juices, water, and dairy. Varun Beverages Limited will hold 100% of the Indian subsidiary and 75% of the Tunisian venture. Additionally, Mr. Prathmesh Mishra has been appointed as the CEO & Managing Director of the proposed Indian subsidiary.
Key Highlights
- Varun Beverages to establish a new Indian subsidiary for alcoholic beverages.
- A joint venture company will be incorporated in Tunisia for beverage production.
- Mr. Prathmesh Mishra appointed CEO & MD of the proposed Indian subsidiary.
- Expansion into RTD and alcoholic beverages marks diversification strategy.
- Significant investment planned for new subsidiary formations.
Price Impact
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