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December 9, 2025
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- Sun, 14 December 2025
In a bold business move, the Jubilant Bhartia Group is planning to sell minority stakes in some of its listed companies to raise around Rs 2,000 crore.
The money will help fund a much larger Rs 12,500 crore acquisition of Hindustan Coca-Cola Beverages (HCCB) — the bottling arm of Coca-Cola in India.
This could mark a major shift for the group, known for its presence in pharmaceuticals and food services, as it looks to dive deep into the beverages sector.
To raise the capital, the promoters of the Jubilant Group are reportedly planning to offload minority stakes in some of their listed businesses — including Jubilant FoodWorks (which runs Domino’s in India), Jubilant Pharmova, and Jubilant Ingrevia.
These stake sales could fetch around Rs 2,000 crore, with the rest likely coming through a mix of internal accruals, promoter equity, and debt.
What makes this especially interesting is that these are not small companies. Jubilant FoodWorks alone has a strong market presence and valuation.
Yet the promoters are willing to dilute their holdings — showing how committed they are to taking over the Coca-Cola bottling business in India.
The goal is to take control of HCCB, which currently handles more than 65% of Coca-Cola’s bottling operations in India.
HCCB is responsible for nearly 65% of Coca-Cola’s bottling operations in India.
For Jubilant, acquiring this would mean a direct foothold into one of the most consumed beverage markets in the world.
It also signals a diversification strategy — moving beyond pharmaceuticals and quick-service restaurants into the FMCG beverage space.
The opportunity is massive: India is among Coca-Cola’s fastest-growing markets. Owning the bottling rights means controlling production, distribution, and eventually margins. Jubilant would not only manufacture but also build deeper distribution networks — tapping into both urban and rural markets.
It gives them long-term control over margins, pricing, and distribution, especially in Tier 2 and Tier 3 cities where demand is growing rapidly.
To make this acquisition work, the group is planning to dilute its own equity in profitable, listed businesses. Think about that for a second. They’re giving up part of what’s already working — like Domino’s India — to fund a bigger, bolder play.
For founders, this is the equivalent of giving up near-term revenue comfort to invest in building infrastructure or product lines that’ll matter three years down the line. It’s a reminder that real scale often needs real sacrifice — even if that means parting with a piece of what’s working today.
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