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The Bhartia family, promoters of the Jubilant Group, is preparing to offload partial stakes in its listed entities via block deals
Jubilant Block Deal
The Bhartia family, promoters of the Jubilant Group, is preparing to offload partial stakes in its listed entities via block deals, sources told News18.com. The move comes as part of a broader strategy to raise funds, possibly linked to its planned investment in the beverage sector.
According to sources, the promoter group will sell 1.32 crore shares of Jubilant FoodWorks, 56 lakh shares of Jubilant Pharmova, and 1.2 crore shares of Jubilant Ingrevia through these transactions.
In Jubilant FoodWorks, the promoter is expected to divest a 2% stake at a floor price of Rs 641 per share, with Morgan Stanley acting as the broker for the deal.
Meanwhile, the Jubilant Ingrevia stake sale will see the Bhartia family offload 7.53% of the company at a floor price of Rs 627.45 per share, representing an 8% discount to the current market price.
Earlier, on June 12, Moneycontrol reported that the Bhartia family was eyeing block deals in listed Jubilant firms to help fund its acquisition of a 40% stake in Hindustan Coca-Cola Beverages (HCCB)—the Indian bottling arm of global beverage giant Coca-Cola.
The landmark transaction was first announced in December 2023, when Jubilant Bhartia Group revealed it had entered into a definitive agreement to acquire 40% equity in Hindustan Coca-Cola Holdings (HCCH)—the parent of HCCB—through Jubilant Beverages Ltd, for a total consideration of Rs 12,500 crore.
HCCB is the single-largest bottling partner for Coca-Cola in India, making the acquisition a major strategic move for the group’s future diversification.
Jubilant FoodWorks Ltd is the master franchisee for Domino’s Pizza in India, Nepal, Sri Lanka, and Bangladesh. It also operates Dunkin’ Donuts and Popeyes, alongside its own brands Ekdum! and Hong’s Kitchen. As of June 12, the company had a market capitalisation of Rs 43,795 crore.
Jubilant Pharmova Ltd, the group’s pharmaceutical and contract research arm, operates in sterile injectables, novel drug discovery, CRO services, allergenic extracts, and U.S.-based radio-pharmacy businesses. Its market cap is around Rs 17,760 crore.
Jubilant Ingrevia Ltd is the group’s demerged life sciences and specialty chemicals business, engaged in the production of vitamins B3 and B4, pyridine derivatives, ethanol, and CDMO (Contract Development and Manufacturing Organization) services. As of June 12, it had a market capitalisation of Rs 10,753 crore.
Shares of Jubilant FoodWorks Ltd closed at Rs 665.75 on the BSE, down Rs 20.10, or 2.93%, while Jubilant Ingrevia Ltd ended at Rs 683.45, up Rs 4.80, or 0.71%. Jubilant Pharmova Ltd settled at Rs 1,125, down Rs 19.90, or 1.74%.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
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