Lunarmech was incorporated in May 2009 and is headquartered in New Delhi. The company reported revenue of ₹77.54 crore (US$10.79 million) for the financial year ended March 2019, up from ₹62.13 crore (US$8.64 million) the year before.
It produces and distributes beverages such as Pepsi, Diet Pepsi, Mountain Dew, Tropicana Slice and Aquafina packaged drinking water. It also has the franchise for the Ole brand of PepsiCo products in Sri Lanka.
As part of its expansion, Varun Beverages aas also secures a deal to acquire Pespico India’s previuolsy franchised territiroes in Odisha and parts of Madhya Pradesh along with three manufacturing units.
The soft drink manufacturer seeks to be a franchise of PepsiCo’s beverage business across 27 out of 29 Indian states and all seven Union Territories (UTs).
The company’s investors include AION Capital, the special situation investment firm jointly run by Apollo Global and ICICI Venture, and Standard Chartered Private Equity.
Earlier, the company’s board in February had approved the raising of capital up to ₹1,500 crore (US$208.63 million) through a qualified institutions placement.