One of the ace investors of Indian market, Ashish Kacholia decided to support this homegrown burger chain Jumboking by picking up 17.2% stake for an undisclosed amount.
According to the details provided, the investment was through a secondary market transaction after Triton Fund exited. Triton Fund had invested in Jumboking in 2018.
According to market experts, the transaction could be between Rs 70 crore and Rs 80 crore, valuation standing at around Rs 400-500 crore.
QSR chain Jumboking stated Rs 110 crore in sales last fiscal through 170 stores in Mumbai, Delhi, Hyderabad and Pune. It is India’s third-largest burger chain after McDonalds and Burger King.