Investor Ashish Kacholia Acquires 17.2% stake in Home-grown Burger Chain Jumboking
Investor Ashish Kacholia Acquires 17.2% stake in Home-grown Burger Chain Jumboking

Ace investor Ashish Kacholia has acquired a 17.2% stake in the popular Indian burger chain Jumboking.

Kacholia's share now makes him the second-largest shareholder in the company. The exact amount of the investment has not been disclosed, but it was made through a secondary market transaction following the exit of Triton Fund, an earlier investor in Jumboking, in 2018.

According to market experts, the transaction is estimated to be valued between ₹70 crore and ₹80 crore, placing the valuation of Jumboking at around ₹400-500 crore.

Jumboking that operates 170 stores across Mumbai, Delhi, Hyderabad and Pune, recorded sales of ₹110 crore in the last fiscal year.

With these figures, it became the third-largest burger chain in India, after McDonald's and Burger King.

Founded by Dheeraj Gupta and Reeta Gupta in August 23, 2001, Jumboking drew inspiration from the successful fast-food business models of international giants like McDonald's and Burger King. The company has established delivery partnerships with popular platforms like Swiggy and Zomato to cater to out-of-store orders.

Jumboking offers a vegetarian menu featuring a variety of burgers, thick shakes, softies and fries, catering to the preferences of college students and young professionals. In 2023, the company introduced a program called JK Burger Rewards to enhance customer loyalty. Jumboking is focused on delivering top-notch execution and exceptional customer service.

"Jumboking represents a promising opportunity in the QSR (Quick Service Restaurant) segment with its commitment to excellence and customer satisfaction," shared Kacholia.

Dheeraj Gupta, the Founder of Jumboking, expressed his delight in having Kacholia on board, highlighting the company's ambitious goal of expanding to 1000 stores while maintaining profitable growth.

Pradyumna Dalmia of Triton Fund also expressed satisfaction with their association with Jumboking, anticipating promising returns for incoming investors. With Kacholia's strategic investment and the company's strong growth trajectory, Jumboking is poised to further solidify its position in India's competitive fast-food market.

 
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