Board approves Rs. 50,06,100 subscription to VRV Foods preferential allotment; stake to rise to 20.41%

Board approved subscribing to 75,850 equity shares of VRV Foods Limited at Rs. 66/- per share, totalling Rs. 50,06,100.

Mon 28 Sep 2026

Investment Amount

Rs. 50,06,100

Number of Shares

75,850 equity shares

Price per Share

Rs. 66/-

Stake Increase

20.01% to 20.41%

VRV FY2025-26 Turnover

Rs. 128.69 Crore

What was approved

At its meeting on September 28, 2026, the Board, on the Audit Committee's recommendation, approved subscription to 75,850 equity shares of VRV Foods Limited at Rs. 66/- per equity share, aggregating Rs. 50,06,100, by way of a preferential allotment made by VRV.

Effect on shareholding

• Holding in VRV increases from 20.01% to 20.41% of the increased paid-up equity share capital.
• VRV will continue to be an associate company.

Related party aspects

• VRV is an associate company, so this is a related party transaction.
• Reviewed by the Audit Committee and approved by the Board; stated to be on an arm's length basis.
• Price based on the valuation report dated September 17, 2026 issued by KZEN Valtech Private Limited, a registered valuer.
• Within the materiality threshold under Regulation 23, so shareholders' approval is not required.
• No governmental or regulatory approval is required.

About the target

VRV Foods Limited manufactures and bottles country liquor, operating a bottling plant at Sansarpur Terrace, District Kangra, Himachal Pradesh, with a distribution network across the state. It is estimated to hold approximately 32% market share in the country liquor segment in Himachal Pradesh, and its flagship brand "VRV Santra" contributes approximately 80-85% of revenue from that segment. Industry classification: Breweries & Distilleries. Incorporated August 27, 1992; presence in India.

VRV financials as disclosed

• FY2025-26 turnover: Rs. 128.69 Crore; Profit after Tax Rs. 5.43 Crore.
• FY2024-25 turnover: Rs. 122.90 Crore.
• FY2023-24 turnover: Rs. 140.33 Crore.

Mechanics

• Consideration: cash.
• Expected completion: within one month from the date of the intimation.
• Stated objective: support VRV's fund requirements and growth, and protect and enhance the value of the existing investment for long-term returns.

Meeting timing

The Board meeting commenced at 06:00 P.M. (IST) and concluded at 06:30 P.M. (IST).

How investors may read it

This is a small incremental investment in an existing associate rather than a change of control, funded in cash, with the stake moving up marginally. The related party nature is addressed through Audit Committee review and an independent valuation.

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