FMCG Sector

Varun Beverages plans to split its ₹5 equity shares into ₹2 equity shares, as previously announced.

Irrespective of the high tax demand, the business said that it does not anticipate any substantial financial ramifications at this time.

In the first quarter of this fiscal year, operating EBITDA increased by 3.5% to ₹248.30 Crore from ₹239.80 Crore in the previous year.

Radhakishan Damani's firm Derive Trading sold a portion of its ownership in tobacco company VST Industries in bulk transactions on Wednesday.

Tata Consumer Products has set a record date for its rights issue of July 27, 2024, which happens to be a Saturday.

Furthermore, Nestle India's shareholders authorised the continuation of a 4.5% royalty payment to its Swiss parent, Nestle.

As part of the collaboration, Mamaearth's goods will be sold at over 1,000 Reliance Smart Bazaar and Smart Point stores across India.

Patanjali Foods' licensing agreement requires a fee of 3% of the product's total sales value, with a minimum annual payment of ₹83 Crore.

Westbridge and Sixth Sense are two of the few private equity investors who are expected to be sellers in the transaction.

However, shareholders rejected the idea last month, with 57.18% voting against the ordinary resolution and 42.82% voting in favour.