Latest news with #Rs125bn
Yahoo
02-05-2025
- Business
- Yahoo
Jubilant Bhartria Group gets nod to acquire 40% of Coca-Cola's India bottler
India's Jubilant Bhartia Group has received approval from India's competition watchdog to acquire a 40% stake in Hindustan Coca-Cola Holdings, of which The Coca-Cola Company's Hindustan Coca-Cola Beverages is a subsidiary. The Competition Commission of India (CCI) gave its nod to the deal yesterday (1 May). The transaction will see see Jubilant Bhartria's drinks subsidiary Jubilant Beverages Limited takeover the stake from Hindustan Coca-Cola Overseas Holdings and Bharat Coca-Cola Overseas Holdings, according to the CCI's statement. The deal with Jubilant Bhartria was agreed in December, with no financial details disclosed. However, Indian media reports at the time pegged its value between Rs100bn ($1.18bn) and Rs125bn ($1.47bn). When the deal was signed, The Coca-Cola Company said the Indian conglomerate's investment would 'strengthen its position in the Indian market'. Sanket Ray, the president of Coca‑Cola's India and South West Asia business unit also said the investment would 'accelerate the CocaCola system', allowing the company to 'win in the market and provide greater value'. Headquartered in Bangalore, Karnataka, HCCB operates across 12 states and 236 districts in South and West India. It runs 13 factories and sells 37 products under eight brands, including Coca-Cola, Thums Up, and Sprite. Besides HCCB, Coca-Cola also operates in India through Coca-Cola India. Separately from the deal with Jubilant Bhartria, in December, HCCB also agreed to sell its bottling operations in the Indian state of Jharkhand to Moon Beverages. In a statement to Just Drinks at the time, Hindustan Coca-Cola Beverages said the deal is a 'significant decision' as it aims to ensure the 'right level' of investment across all areas of the business, while achieving both 'scale and continuity'. "Jubilant Bhartria Group gets nod to acquire 40% of Coca-Cola's India bottler" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Zawya
25-02-2025
- Business
- Zawya
Tata Capital announces IPO plan: IFR
India's Tata Capital said it plans to launch an IPO which will comprise 230m primary shares and an undisclosed secondary component. The company did not indicate the size and timing of the float. Market participants expect it to raise up to Rs150bn (US$1.72bn). Additionally, Tata Capital said it is planning a rights issue of up to Rs15bn, with shareholders on the company's books as of February 25 eligible to participate. Kotak is working on the IPO and more banks are likely to join the syndicate. Non-banking finance company Tata Capital is a subsidiary of Tata Sons. The IPO is being planned to comply with the Reserve Bank of India's requirement for "upper layer" non-banking financial companies to list on the country's stock exchanges within three years of being included in this category. Tata Capital was declared an upper layer NBFC by the RBI on September 30 2022. Both Tata Capital and Tata Sons have to list by September 2025. As the parent of a complex conglomerate with multiple listed entities already, Tata Sons has been seeking an exemption from the Reserve Bank of India as going public would involve complying with demanding disclosure requirements and may limit its flexibility to make investments. Bajaj Housing Finance, which also had to list by September 2025, raised Rs65.6bn from an IPO in September, while HDFC Bank subsidiary HDB Financial Services, another company on the RBI list, has filed with the Securities and Exchange Board of India for an IPO of Rs125bn. Tata Capital's revenue in the nine months December was Rs126.9bn, up 35% from Rs94.2bn a year earlier. Net profit rose 20% to Rs20.7bn from Rs17.2bn.
