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The latest announcement is out from Varun Beverages Ltd. ( (IN:VBL) ).
Varun Beverages Ltd. has increased the corporate guarantee it provides on behalf of its South African subsidiary, The Beverage Company Proprietary Limited (Bevco), to support the latter’s borrowing arrangements. The guarantee in favour of FirstRand Bank Limited, acting through its Rand Merchant Bank division, has been raised from ZAR 1,500 million to ZAR 2,970 million and is valid until July 31, 2031, securing Bevco’s credit facility while the company states there is no direct impact on its own financial position and that the transaction is at arm’s length with no promoter group interest involved.
More about Varun Beverages Ltd.
Varun Beverages Ltd. is a leading beverage company and key bottling partner for PepsiCo, engaged in the production and distribution of carbonated soft drinks, non-carbonated beverages and packaged drinking water across multiple geographies, including a growing presence in international markets such as South Africa through subsidiaries like The Beverage Company Proprietary Limited.
Average Trading Volume: 397,083
Technical Sentiment Signal: Hold
Current Market Cap: 1633.3B INR
For a thorough assessment of VBL stock, go to TipRanks’ Stock Analysis page.