Jubilant Food shares rise 2.5%, Jubilant Ingrevia rallies 11% post-block trades

Jubilant Food shares rise 2.5%, Jubilant Ingrevia rallies 11% post-block trades by promoters

Shares of Jubilant FoodWorks rose 2.5% while those of Jubilant Ingrevia surged 11% on June 13 as Jubilant Group's promoters Bhartia family likely sold small stakes in listed firms to part-fund a 40% stake acquisition in Hindustan Coca Cola Beverages (HCCB), the largest Coca‐Cola bottler in India.

On June 13, 1.6% equity of Jubilant FoodWorks, or 1.06 crore shares, changed hands in five block trades on NSE while 6.2% equity of Jubilant Ingrevia, or 98.7 lakh shares, got traded in six blocks.

Jubilant Pharmova's 3% of equity, or 48 lakh shares, changed hands in one block, showed exchange data.

It was in December that the Jubilant Bhartia Group announced that it had entered into a definitive agreement to acquire a 40 percent equity interest in Hindustan Coca Cola Holdings (HCCH) through Jubilant Beverages Ltd for a purchase consideration of Rs 12,500 crore.

HCCH is the parent company of HCCB.

Jubilant FoodWorks is the master franchisee of Domino’s Pizza in India, Nepal, Sri Lanka and Bangladesh. It also operates Dunkin’ Donuts and Popeyes in India, alongside homegrown brands Ekdum! and Hong’s Kitchen. As of June 13, its market capitalisation was around Rs 45,000 crore.

Jubilant Pharmova, the group’s pharmaceuticals and contract research arm, has a presence in the sterile injectables, CRO services and novel drug development businesses, allergenic extracts and US radio-pharmacy networks. It has a market cap of Rs 17,760 crore.

Jubilant Ingrevia is the group’s demerged life‑sciences and specialty chemicals company, producing ingredients such as vitamins B3 and B4, pyridine derivatives and ethanol along with CDMO services. Its market cap stood at nearly Rs 12,000 crore as of June 13.