{"id":122411,"date":"2026-06-18T13:13:33","date_gmt":"2026-06-18T07:43:33","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=122411"},"modified":"2026-06-18T13:13:34","modified_gmt":"2026-06-18T07:43:34","slug":"varun-beverages-asahi-calpis-india-partnership-june-2026","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/varun-beverages-asahi-calpis-india-partnership-june-2026\/","title":{"rendered":"Varun Beverages Stock Gains on Asahi Group Partnership to Launch CALPIS Brand in India; PepsiCo Franchise Now Extended to 2049"},"content":{"rendered":"<div class=\"meta-block\"><\/div>\n<p style=\"border-left: 4px solid #1F4E79; background: #EBF3FB; padding: 10px 16px; font-style: italic;\"><em>Varun Beverages opened +1.4% to Rs 551.70 on 18 Jun on Asahi Group CALPIS India deal; now Rs 538.60 (-1%). CALPIS: Japanese milk-based soft drink. PepsiCo franchise extended to 2049.<\/em><\/p>\n<p>Varun Beverages stock opened over 1% higher to a day high of Rs 551.70 on 18 June 2026 after news emerged of a partnership with Japan&#8217;s Asahi Group to launch the CALPIS brand in India, but has since given back those early gains to trade at Rs 538.60, down about 1% from the previous close of Rs 544.05. CALPIS is a Japanese lactic acid-based soft drink with a century-long heritage, and the tie-up leverages Varun Beverages&#8217; extensive production and distribution network across India to introduce the brand to Indian consumers. VBL is already one of the largest franchisees of PepsiCo globally outside the United States, with a bottling agreement recently extended to 2049.<\/p>\n<p style=\"margin-top: 24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&amp;utm_medium=vbl-asahi-calpis-june-18-2026\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/varun-beverages-asahi-calpis-india-partnership-june-2026\/#Varun_Beverages_and_CALPIS_Deal_at_a_Glance\" title=\"Varun Beverages and CALPIS Deal at a Glance\">Varun Beverages and CALPIS Deal at a Glance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/varun-beverages-asahi-calpis-india-partnership-june-2026\/#Why_the_Asahi_CALPIS_Partnership_Matters_for_Varun_Beverages\" title=\"Why the Asahi CALPIS Partnership Matters for Varun Beverages\">Why the Asahi CALPIS Partnership Matters for Varun Beverages<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/varun-beverages-asahi-calpis-india-partnership-june-2026\/#CALPIS_in_India_Market_Opportunity_and_Challenges\" title=\"CALPIS in India: Market Opportunity and Challenges\">CALPIS in India: Market Opportunity and Challenges<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/varun-beverages-asahi-calpis-india-partnership-june-2026\/#1_VBLs_Distribution_Network_Is_the_Deals_Core_Asset\" title=\"1. VBL&#8217;s Distribution Network Is the Deal&#8217;s Core Asset\">1. VBL&#8217;s Distribution Network Is the Deal&#8217;s Core Asset<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/varun-beverages-asahi-calpis-india-partnership-june-2026\/#2_Stock_Giving_Back_Gains_What_the_Price_Action_Says\" title=\"2. Stock Giving Back Gains: What the Price Action Says\">2. Stock Giving Back Gains: What the Price Action Says<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/varun-beverages-asahi-calpis-india-partnership-june-2026\/#3_The_Broader_VBL_Growth_Story\" title=\"3. The Broader VBL Growth Story\">3. The Broader VBL Growth Story<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/varun-beverages-asahi-calpis-india-partnership-june-2026\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/varun-beverages-asahi-calpis-india-partnership-june-2026\/#Why_did_Varun_Beverages_stock_gain_on_18_June_2026\" title=\"Why did Varun Beverages stock gain on 18 June 2026?\">Why did Varun Beverages stock gain on 18 June 2026?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/varun-beverages-asahi-calpis-india-partnership-june-2026\/#What_is_the_Varun_Beverages_and_Asahi_CALPIS_partnership\" title=\"What is the Varun Beverages and Asahi CALPIS partnership?\">What is the Varun Beverages and Asahi CALPIS partnership?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/varun-beverages-asahi-calpis-india-partnership-june-2026\/#What_is_CALPIS_and_why_is_it_significant\" title=\"What is CALPIS and why is it significant?\">What is CALPIS and why is it significant?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/varun-beverages-asahi-calpis-india-partnership-june-2026\/#What_is_Varun_Beverages_business\" title=\"What is Varun Beverages&#8217; business?\">What is Varun Beverages&#8217; business?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/varun-beverages-asahi-calpis-india-partnership-june-2026\/#What_is_Varun_Beverages_share_price_today\" title=\"What is Varun Beverages share price today?\">What is Varun Beverages share price today?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/varun-beverages-asahi-calpis-india-partnership-june-2026\/#How_does_the_CALPIS_deal_fit_Varun_Beverages_growth_strategy\" title=\"How does the CALPIS deal fit Varun Beverages&#8217; growth strategy?\">How does the CALPIS deal fit Varun Beverages&#8217; growth strategy?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/varun-beverages-asahi-calpis-india-partnership-june-2026\/#What_is_Varun_Beverages_PepsiCo_agreement_extension\" title=\"What is Varun Beverages&#8217; PepsiCo agreement extension?\">What is Varun Beverages&#8217; PepsiCo agreement extension?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/varun-beverages-asahi-calpis-india-partnership-june-2026\/#Should_investors_buy_Varun_Beverages_after_the_CALPIS_deal\" title=\"Should investors buy Varun Beverages after the CALPIS deal?\">Should investors buy Varun Beverages after the CALPIS deal?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Varun_Beverages_and_CALPIS_Deal_at_a_Glance\"><\/span><strong>Varun Beverages and CALPIS Deal at a Glance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"width: 100%; border-collapse: collapse; margin: 20px 0;\">\n<tbody>\n<tr style=\"background: #000000;\">\n<th style=\"color: #ffffff; padding: 10px; text-align: left; border: 1px solid #CCCCCC;\">Varun Beverages and CALPIS Deal<\/th>\n<th style=\"color: #ffffff; padding: 10px; text-align: left; border: 1px solid #CCCCCC;\">Detail<\/th>\n<\/tr>\n<tr style=\"background: #FFFFFF;\">\n<td style=\"padding: 10px; border: 1px solid #CCCCCC;\"><a href=\"https:\/\/univest.in\/stocks\/vbl\/varun-beverages-ltd-share-price-today\">VBL Share Price (NSE: VBL)<\/a><\/td>\n<td style=\"padding: 10px; border: 1px solid #CCCCCC;\">Rs 538.60 (-1.0%); Day High Rs 551.70 (+1.43%)<\/td>\n<\/tr>\n<tr style=\"background: #F9F9F9;\">\n<td style=\"padding: 10px; border: 1px solid #CCCCCC;\">Previous Close<\/td>\n<td style=\"padding: 10px; border: 1px solid #CCCCCC;\">Rs 544.05<\/td>\n<\/tr>\n<tr style=\"background: #FFFFFF;\">\n<td style=\"padding: 10px; border: 1px solid #CCCCCC;\">Opening Price<\/td>\n<td style=\"padding: 10px; border: 1px solid #CCCCCC;\">Rs 547.70<\/td>\n<\/tr>\n<tr style=\"background: #F9F9F9;\">\n<td style=\"padding: 10px; border: 1px solid #CCCCCC;\">Catalyst<\/td>\n<td style=\"padding: 10px; border: 1px solid #CCCCCC;\">Asahi Group partnership to launch CALPIS in India<\/td>\n<\/tr>\n<tr style=\"background: #FFFFFF;\">\n<td style=\"padding: 10px; border: 1px solid #CCCCCC;\">What is CALPIS<\/td>\n<td style=\"padding: 10px; border: 1px solid #CCCCCC;\">Japanese lactic acid soft drink by Asahi Soft Drinks; est. 1919<\/td>\n<\/tr>\n<tr style=\"background: #F9F9F9;\">\n<td style=\"padding: 10px; border: 1px solid #CCCCCC;\">VBL Role<\/td>\n<td style=\"padding: 10px; border: 1px solid #CCCCCC;\">Manufacturing, production and distribution of CALPIS in India<\/td>\n<\/tr>\n<tr style=\"background: #FFFFFF;\">\n<td style=\"padding: 10px; border: 1px solid #CCCCCC;\">PepsiCo Agreement<\/td>\n<td style=\"padding: 10px; border: 1px solid #CCCCCC;\">Extended to April 2049; SPV clause removed enabling non-Pepsi deals<\/td>\n<\/tr>\n<tr style=\"background: #F9F9F9;\">\n<td style=\"padding: 10px; border: 1px solid #CCCCCC;\">VBL Business<\/td>\n<td style=\"padding: 10px; border: 1px solid #CCCCCC;\">Largest PepsiCo franchisee outside the US; operates in India and international markets<\/td>\n<\/tr>\n<tr style=\"background: #FFFFFF;\">\n<td style=\"padding: 10px; border: 1px solid #CCCCCC;\">Promoter Holding<\/td>\n<td style=\"padding: 10px; border: 1px solid #CCCCCC;\">59.43% (March 2026 data)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<div style=\"background: #E8EAFF; border-radius: 14px; padding: 28px 32px 24px 32px; margin: 24px 0; font-family: -apple-system,BlinkMacSystemFont,'Segoe UI',Roboto,sans-serif; cursor: pointer; max-width: 100%; box-sizing: border-box;\">\n<p style=\"font-size: 20px; font-weight: bold; color: #0a0a23; margin: 0 0 12px 0; line-height: 1.3;\">Top FMCG and Beverage Stocks to Watch in 2026<\/p>\n<p style=\"font-size: 15px; color: #3a3a5c; margin: 0 0 14px 0; line-height: 1.6;\">When <strong style=\"color: #0a0a23;\">Univest analysts<\/strong> spot FMCG brand-building catalysts, <em>investors track early.<\/em><\/p>\n<p style=\"font-size: 15px; color: #3a3a5c; margin: 0 0 14px 0; line-height: 1.6;\">Our research team has shortlisted the <strong style=\"color: #0a0a23;\">Top Stocks to Buy<\/strong> based on current market momentum, sector trends &amp; growth potential for 2026.<\/p>\n<ul style=\"margin: 0 0 16px 20px; padding: 0; color: #3a3a5c; font-size: 15px; line-height: 1.8;\">\n<li>Discover stocks investors are actively accumulating<\/li>\n<li>High-conviction opportunities backed by research<\/li>\n<li>Designed for the next phase of market growth<\/li>\n<\/ul>\n<p style=\"font-size: 15px; color: #3a3a5c; margin: 0 0 20px 0;\">Unlock the latest <a style=\"color: #3b7fff; font-weight: bold; text-decoration: none;\" href=\"https:\/\/univest.in\/user\/payment?planType=ALL_PRO%20PLANS\">Top Stock Picks<\/a> on Univest<\/p>\n<p><a style=\"display: inline-block; background: #3B7FFF; color: #fff; font-size: 15px; font-weight: 600; padding: 13px 28px; border-radius: 50px; letter-spacing: 0.2px; text-decoration: none;\" href=\"https:\/\/univest.in\/user\/payment?planType=ALL_PRO%20PLANS\" target=\"_blank\" rel=\"noopener\">See the Stocks \u2192<\/a><\/p>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"Why_the_Asahi_CALPIS_Partnership_Matters_for_Varun_Beverages\"><\/span><strong>Why the Asahi CALPIS Partnership Matters for Varun Beverages<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Asahi CALPIS deal is the first tangible outcome of the revised PepsiCo agreement that removed the special purpose vehicle restriction in May 2026. Until that change, Varun Beverages was contractually limited to PepsiCo business alone. The removal of this clause specifically enabled VBL to partner with non-PepsiCo brands, and the Asahi CALPIS tie-up, announced just weeks later, suggests VBL&#8217;s management has been actively seeking such opportunities. The deal leverages the company&#8217;s manufacturing infrastructure and one of India&#8217;s most extensive cold-chain distribution networks without requiring major new capital investment.<\/p>\n<p style=\"margin-top: 24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Use the Univest Screener to compare Varun Beverages with other FMCG and beverage stocks<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"CALPIS_in_India_Market_Opportunity_and_Challenges\"><\/span><strong>CALPIS in India: Market Opportunity and Challenges<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>India&#8217;s non-cola soft drink market is expanding rapidly as consumers seek alternatives to traditional carbonated beverages. Dairy-based and functional drinks, flavoured milk beverages and lactic acid drinks are among the fastest-growing segments. CALPIS, with its mild sweet-tart profile and dairy heritage, is well positioned for this trend. However, Indian consumer tastes differ from Japanese preferences, and the CALPIS brand is currently unknown in India, requiring meaningful marketing investment to build awareness before the product can achieve commercial scale.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"1_VBLs_Distribution_Network_Is_the_Deals_Core_Asset\"><\/span><strong>1. VBL&#8217;s Distribution Network Is the Deal&#8217;s Core Asset<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Varun Beverages has built one of the most extensive beverage distribution networks in India through its PepsiCo franchise operations, covering urban, semi-urban and rural markets with refrigerated last-mile logistics. This infrastructure is the critical asset Asahi is accessing through the partnership. For CALPIS, achieving meaningful distribution depth in India quickly would have taken years to build independently. VBL&#8217;s existing network provides immediate nationwide reach.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Stock_Giving_Back_Gains_What_the_Price_Action_Says\"><\/span><strong>2. Stock Giving Back Gains: What the Price Action Says<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Despite the positive strategic news, Varun Beverages share price has given back its early gain of around 1.4% and is currently below the previous close. This suggests the market views the CALPIS partnership as a medium-term optionality rather than an immediate earnings catalyst. CALPIS is an entirely new brand in India and will require multi-year investment in marketing and consumer education before meaningful revenue contribution, which is why short-term traders are not sustaining the initial upward move.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_The_Broader_VBL_Growth_Story\"><\/span><strong>3. The Broader VBL Growth Story<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Beyond CALPIS, Varun Beverages&#8217; core business is performing well. The company posted strong Q1 2026 results and has been expanding its international footprint alongside India operations. The PepsiCo agreement extension to 2049 removes the franchise renewal overhang for over two decades, giving long-term investors a more stable planning horizon. Axis Securities has a bullish technical view with targets of Rs 599-615, based on strong volume support and trend strength.<\/p>\n<p style=\"margin-top: 24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&amp;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Varun Beverages share price live and follow FMCG sector recommendations.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Varun Beverages stock opened over 1% higher to Rs 551.70 on 18 June 2026 on the Asahi Group CALPIS India launch partnership, but has since pared gains to trade at Rs 538.60 (-1%). The deal is strategically important as the first non-PepsiCo brand partnership after the May 2026 revision of the PepsiCo agreement removed the SPV restriction. CALPIS is a well-known Japanese dairy-based soft drink whose Indian launch leverages VBL&#8217;s manufacturing and distribution scale. Near-term earnings impact is limited; this is a medium-term optionality play. Consult a SEBI-registered financial advisor before investing.<\/p>\n<div style=\"background: #CC0000; border-radius: 8px; padding: 16px 20px; margin: 24px 0;\">\n<p style=\"color: #ffffff; font-size: 13px; line-height: 1.7; margin: 0;\"><strong style=\"color: #ffffff;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/div>\n<h3><span class=\"ez-toc-section\" id=\"Why_did_Varun_Beverages_stock_gain_on_18_June_2026\"><\/span><strong>Why did Varun Beverages stock gain on 18 June 2026?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Varun Beverages stock opened over 1% higher to a day high of Rs 551.70 on 18 June 2026 after reports of a partnership with Japan&#8217;s Asahi Group to launch the CALPIS brand in India. The deal leverages Varun&#8217;s production and distribution infrastructure for CALPIS&#8217;s market entry into India. However, the stock has since pared its gains and is trading around Rs 538.60, roughly 1% below the previous close, as initial enthusiasm faded through the session.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_Varun_Beverages_and_Asahi_CALPIS_partnership\"><\/span><strong>What is the Varun Beverages and Asahi CALPIS partnership?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Varun Beverages has entered a partnership with Asahi Group, the Japanese beverage conglomerate, to launch the CALPIS brand in India. CALPIS is a lactic acid-based soft drink originally developed in Japan in 1919 and is one of the oldest and most recognised Japanese beverage brands. The partnership leverages Varun Beverages&#8217; manufacturing capacity and distribution network across India to produce and distribute the CALPIS product, expanding both companies&#8217; footprint in India&#8217;s growing non-cola beverage category.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_CALPIS_and_why_is_it_significant\"><\/span><strong>What is CALPIS and why is it significant?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> CALPIS is a Japanese soft drink made from non-fat milk and lactic acid with a mild, sweet and slightly tart taste. It was first produced by Asahi Soft Drinks in Japan in 1919 and has since expanded to multiple markets in Asia and the United States under the name CALPICO. CALPIS is positioned as a health-oriented, dairy-based beverage and fits India&#8217;s growing consumer preference for differentiated, premium and functional soft drinks. In Japan and Asian markets, CALPIS is a well-known mainstream brand.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_Varun_Beverages_business\"><\/span><strong>What is Varun Beverages&#8217; business?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Varun Beverages (NSE: VBL) is one of the largest PepsiCo franchisees globally outside the United States. The company manufactures, sells and distributes PepsiCo&#8217;s carbonated soft drinks, juices, packaged drinking water and sports drinks across India and multiple international markets. VBL recently extended its exclusive bottling agreement with PepsiCo for India to April 30, 2049, from the previous expiry of April 30, 2039. The new agreement also removes the earlier restriction that limited VBL to operating only as a special purpose vehicle for PepsiCo business, giving it flexibility to enter non-PepsiCo businesses like the CALPIS partnership.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_Varun_Beverages_share_price_today\"><\/span><strong>What is Varun Beverages share price today?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Varun Beverages share price (NSE: VBL) is Rs 538.60 as of 18 June 2026, down approximately 1% from the previous close of Rs 544.05. The stock opened higher at Rs 547.70 and touched a day high of Rs 551.70 on the Asahi CALPIS partnership news before giving back gains through the session. The day low was Rs 538.05.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_does_the_CALPIS_deal_fit_Varun_Beverages_growth_strategy\"><\/span><strong>How does the CALPIS deal fit Varun Beverages&#8217; growth strategy?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The CALPIS partnership is significant for Varun Beverages because it is the first major non-PepsiCo product collaboration since the PepsiCo agreement was revised in May 2026 to remove the SPV clause. The removal of that restriction specifically enables VBL to enter partnerships like the Asahi CALPIS deal. Strategically, it diversifies Varun&#8217;s product portfolio beyond carbonated soft drinks and taps the growing Indian consumer demand for premium, dairy-based and functional beverages.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_Varun_Beverages_PepsiCo_agreement_extension\"><\/span><strong>What is Varun Beverages&#8217; PepsiCo agreement extension?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Varun Beverages extended its exclusive bottling appointment and trademark licence agreement with PepsiCo and affiliates for India on May 21, 2026. The revised agreement extends the arrangement from April 30, 2039 to April 30, 2049, a ten-year extension. Additionally, the earlier clause that restricted VBL to acting solely as a special purpose vehicle for PepsiCo business has been removed, allowing VBL to pursue partnerships with other brands, including the Asahi CALPIS deal on 18 June.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Should_investors_buy_Varun_Beverages_after_the_CALPIS_deal\"><\/span><strong>Should investors buy Varun Beverages after the CALPIS deal?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The Asahi CALPIS partnership is a strategic positive that signals Varun Beverages&#8217; ambition to diversify beyond PepsiCo, leveraging its unparalleled distribution network across India. However, the stock has given back early gains from the news and is trading below the previous close, suggesting the market views this as an early-stage, incremental positive rather than an immediate earnings catalyst. CALPIS is a new category in India and will require brand-building investment. Consult a SEBI-registered financial advisor before investing.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Why did Varun Beverages stock gain on 18 June 2026?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Varun Beverages stock opened over 1% higher to a day high of Rs 551.70 on 18 June 2026 after reports of a partnership with Japan's Asahi Group to launch the CALPIS brand in India. The deal leverages Varun's production and distribution infrastructure for CALPIS's market entry into India. However, the stock has since pared its gains and is trading around Rs 538.60, roughly 1% below the previous close, as initial enthusiasm faded through the session.\"}},{\"@type\":\"Question\",\"name\":\"What is the Varun Beverages and Asahi CALPIS partnership?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Varun Beverages has entered a partnership with Asahi Group, the Japanese beverage conglomerate, to launch the CALPIS brand in India. CALPIS is a lactic acid-based soft drink originally developed in Japan in 1919 and is one of the oldest and most recognised Japanese beverage brands. The partnership leverages Varun Beverages' manufacturing capacity and distribution network across India to produce and distribute the CALPIS product, expanding both companies' footprint in India's growing non-cola beverage category.\"}},{\"@type\":\"Question\",\"name\":\"What is CALPIS and why is it significant?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"CALPIS is a Japanese soft drink made from non-fat milk and lactic acid with a mild, sweet and slightly tart taste. It was first produced by Asahi Soft Drinks in Japan in 1919 and has since expanded to multiple markets in Asia and the United States under the name CALPICO. CALPIS is positioned as a health-oriented, dairy-based beverage and fits India's growing consumer preference for differentiated, premium and functional soft drinks. In Japan and Asian markets, CALPIS is a well-known mainstream brand.\"}},{\"@type\":\"Question\",\"name\":\"What is Varun Beverages' business?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Varun Beverages (NSE: VBL) is one of the largest PepsiCo franchisees globally outside the United States. The company manufactures, sells and distributes PepsiCo's carbonated soft drinks, juices, packaged drinking water and sports drinks across India and multiple international markets. VBL recently extended its exclusive bottling agreement with PepsiCo for India to April 30, 2049, from the previous expiry of April 30, 2039. The new agreement also removes the earlier restriction that limited VBL to operating only as a special purpose vehicle for PepsiCo business, giving it flexibility to enter non-PepsiCo businesses like the CALPIS partnership.\"}},{\"@type\":\"Question\",\"name\":\"What is Varun Beverages share price today?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Varun Beverages share price (NSE: VBL) is Rs 538.60 as of 18 June 2026, down approximately 1% from the previous close of Rs 544.05. The stock opened higher at Rs 547.70 and touched a day high of Rs 551.70 on the Asahi CALPIS partnership news before giving back gains through the session. The day low was Rs 538.05.\"}},{\"@type\":\"Question\",\"name\":\"How does the CALPIS deal fit Varun Beverages' growth strategy?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The CALPIS partnership is significant for Varun Beverages because it is the first major non-PepsiCo product collaboration since the PepsiCo agreement was revised in May 2026 to remove the SPV clause. The removal of that restriction specifically enables VBL to enter partnerships like the Asahi CALPIS deal. Strategically, it diversifies Varun's product portfolio beyond carbonated soft drinks and taps the growing Indian consumer demand for premium, dairy-based and functional beverages.\"}},{\"@type\":\"Question\",\"name\":\"What is Varun Beverages' PepsiCo agreement extension?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Varun Beverages extended its exclusive bottling appointment and trademark licence agreement with PepsiCo and affiliates for India on May 21, 2026. The revised agreement extends the arrangement from April 30, 2039 to April 30, 2049, a ten-year extension. Additionally, the earlier clause that restricted VBL to acting solely as a special purpose vehicle for PepsiCo business has been removed, allowing VBL to pursue partnerships with other brands, including the Asahi CALPIS deal on 18 June.\"}},{\"@type\":\"Question\",\"name\":\"Should investors buy Varun Beverages after the CALPIS deal?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The Asahi CALPIS partnership is a strategic positive that signals Varun Beverages' ambition to diversify beyond PepsiCo, leveraging its unparalleled distribution network across India. However, the stock has given back early gains from the news and is trading below the previous close, suggesting the market views this as an early-stage, incremental positive rather than an immediate earnings catalyst. CALPIS is a new category in India and will require brand-building investment. Consult a SEBI-registered financial advisor before investing.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Varun Beverages stock opens +1.4% on 18 June 2026 on Asahi Group CALPIS India deal but pares gains. CALPIS is a Japanese dairy soft drink. PepsiCo bottling deal extended to April 2049. Full analysis.<\/p>\n","protected":false},"author":34,"featured_media":122416,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[842],"tags":[4722],"class_list":["post-122411","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-stock-gains"],"metadata":{"rank_math_internal_links_processed":["1"],"_edit_lock":["1781768632:23"],"_last_editor_used_jetpack":["block-editor"],"rank_math_primary_category":["842"],"rank_math_seo_score":["79"],"rank_math_title":["Varun Beverages Stock Gains on Asahi CALPIS India Partnership"],"rank_math_description":["Varun Beverages stock opens +1.4% on 18 June 2026 on Asahi Group CALPIS India deal but pares gains to -1%. CALPIS is a Japanese milk-based soft drink. PepsiCo deal extended to 2049. 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