The board of Varun Beverages will acquire a further 20 per cent stake in Lunarmech Technologies Pvt Ltd for ₹15 crore. Post acquisition, the company will hold 55 per cent of the effective equity capital of Lunarmech.
The latter is manufacturer, processor, buyer, seller, importer and exporter in all kinds of pet bottle caps and crown caps. The transaction is a related-party deal, as one of the promoters Vivek Gupta is a director in Lunarmech Technologies.