Ashish Kacholia, a prominent figure in the investment world, has recently acquired a significant 17.2% stake in Jumboking, the country’s largest indigenous burger chain. This strategic move, made through a secondary market transaction following Triton Fund’s exit from the company in 2018, positions Kacholia as the second-largest shareholder in Jumboking. The exact amount invested remains undisclosed.
Market analysts estimate the transaction to be valued between Rs 70 crore and Rs 80 crore, thereby attributing a valuation of Rs. 400–500 crore to the quick-service restaurant chain. Jumboking has witnessed remarkable success, recording sales of Rs 110 crore in the previous fiscal year through its 170 outlets across Mumbai, Delhi, Hyderabad, and Pune. It currently stands as India’s third-largest burger chain, trailing behind industry giants McDonald’s and Burger King.
The founder of Jumboking, Dheeraj Gupta, commented on the significance of franchising and the company’s unique understanding of the Indian palate. He remarked, “Globally, franchising has been proven to be the best format to scale. It is challenging to crack, but once you have done it, it unleashes exponential growth. Similarly, burgers are a western concept, but Jumboking has the advantage of understanding the Indian palate better.”
Jumboking, originally established in 2001 with a focus on selling vada pav, a popular street food in Maharashtra, underwent a pivotal transformation in 2017 when it shifted its focus to burgers. With a stated goal of reaching 1,000 stores by 2030, the company has been steadfast in its expansion efforts.
Ashish Kacholia, renowned for his keen eye for multibagger stocks, commands a substantial portfolio with shares worth Rs 3,000 crore in listed companies. Through his firm, Lucky Securities, Kacholia holds stakes in over 60 mid-sized companies, further solidifying his position as a prominent player in the investment landscape.