Jubilant Group Stake sale to raise capital for buying stake in HCCB

Jubilant Bhartia Group is in the process of raising ₹2,000 crore through the sale of minority stakes in its listed companies—Jubilant Ingrevia , Jubilant Pharmova , and Jubilant FoodWorks . This capital will partly fund the acquisition of a 40% stake in Hindustan Coca-Cola Beverages (HCCB) for ₹12,500 crore , valuing HCCB at ₹31,250 crore including debt . Goldman Sachs has already committed $600 million (~₹5,100 crore) to support the deal. According to sources, the group offloaded around 6% in

, 3% in , and 2% in , with the final percentages dependent on market conditions and investor interest. In addition to these stake sales, the group is also divesting non-core assets across its food and pharma businesses to raise further funds. Morgan Stanley is advising the promoters on both the sale of shares and asset divestments , indicating a structured and strategic approach to capital optimization. The Competition Commission of India approved the HCCB acquisition in May 2025, allowing the transaction to move forward. This initiative reflects the group’s broader strategy to strengthen its balance sheet , unlock value for shareholders , and expand into high-growth sectors like beverages . By acquiring a significant portion of HCCB, one of India’s largest beverage bottlers, the Jubilant Bhartia Group aims to diversify its revenue base and leverage the strong brand equity and distribution network of the Coca-Cola franchise in India. The move also aligns with the group’s ongoing focus on capital efficiency and portfolio rationalization , ensuring that resources are directed toward core and scalable businesses. As the deal progresses, it will be closely monitored by investors for potential valuation upside and operational synergies and it was acknowledged today in the way market reacted to the news.