Disclosure Context

Varun Beverages Limited (Scrip Code: 540180, Symbol: VBL) submitted a disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made on August 25, 2026, and signed by Ravi Batra, Chief Risk Officer & Group Company Secretary.

Board Meeting Details

The Board of Directors meeting was held on August 25, 2026, starting at 4:00 PM and concluding at 4:13 PM. The board approved three key items during this meeting.

Approved Resolutions

1. Indian Wholly-Owned Subsidiary Incorporation

The board approved incorporating a wholly-owned subsidiary company in India named KIVA Spirits and Company Limited (name subject to approval). The subsidiary will carry on the business of Ready to Drink (RTD), Alcoholic Beverages and allied products, subject to receipt of applicable requisite approvals.

Key details of KIVA Spirits:

  • Country of Incorporation: India
  • Holding Company: Varun Beverages Limited
  • Industry: Alcoholic Beverages
  • Governmental approval required: Prior approval of Ministry of Corporate Affairs
  • Consideration: Cash consideration
  • Proposed Authorized Share Capital: ₹10 Crore
  • Proposed Paid-up Equity Share Capital: ₹9 Crore
  • Share price: Face value of ₹10 each
  • Shareholding: 100% to be held by Varun Beverages Limited

2. Management Appointment for Indian Subsidiary

The board approved the appointment of Mr. Prathmesh Mishra as CEO & Managing Director of the proposed wholly-owned subsidiary (KIVA Spirits and Company Limited).

Mr. Mishra's Profile:

  • Seasoned business leader with over 30 years of experience across consumer businesses
  • Most recently served as Managing Director for Korea and Japan at Diageo
  • Previously held several senior leadership positions at Diageo India including Chief Commercial Officer (7 years) and Chief Operating Officer - West (3 years)
  • Spent 14 years with Pernod Ricard, India in various leadership roles including Vice President - North
  • Served as Chairman of Royal Challengers Bangalore (RCB)
  • Began career in 1993 as Management Trainee with Inertia Industries Ltd.
  • Education: Bachelor of Arts from University of Delhi (1991), PGDBM from IMS Ghaziabad (1993)

3. Tunisian Joint Venture Incorporation

The board approved incorporating a joint venture company in Tunisia named Varun Beverages Tunisia SA (or similar name as approved by regulatory authority). The JV will carry on the business of production and distribution of beverages including carbonated soft drinks, juices, water and dairy, subject to receipt of applicable requisite approvals.

Key details of Tunisian JV:

  • Country of Incorporation: Tunisia
  • Holding Company: Varun Beverages Limited
  • Industry: FMCG
  • Governmental approval required: Prior approval of National Register of Enterprises (RNE)
  • Consideration: Cash consideration
  • Proposed Share Capital: TND 9 Million
  • Share price: Face value of TND 10 each
  • Shareholding structure:
  • Varun Beverages Limited (India): 75%
  • Bevanda (Tunisia): 25%