Synopsis: Ravi Kant Jaipuria has built RJ Corp into a diversified empire spanning beverages, fast food, healthcare, and finance. Strategic partnerships, mergers like Devyani-Sapphire, and companies like Varun Beverages and other ventures have grown his wealth to Rs. 1.56 lakh crore as of the end of 2024.
The Jaipuria family has built a strong presence in India’s business world through RJ Corp, which works in beverages, fast food, healthcare, and hotels. By partnering with big global brands and expanding carefully, they have created some of India’s most well-known consumer businesses. Recent moves, like merging Devyani International with Sapphire Foods, are helping them grow even bigger and become one of the richest business families in the country.
The Man Behind the Empire
Ravi Kant Jaipuria, often called India’s “Cola King,” is the founder and chairman of RJ Corp, a diversified business group with a presence in beverages, fast food, healthcare, and education. Over the past four decades, Jaipuria has built a formidable business empire by forming strategic partnerships with global brands like PepsiCo and Yum! Brands. His role as a key partner in bottling operations and quick-service restaurant franchises has earned him national recognition and substantial wealth.
RJ Corp is currently driving a major consolidation in India’s fast-food sector. Devyani International, the country’s largest franchisee for KFC and Pizza Hut, is set to absorb Sapphire Foods, creating one of the nation’s biggest networks of these quick-service restaurants. This move strengthens Jaipuria’s dominance in the food and beverage sector and demonstrates his continued focus on aggressive expansion.
The Backbone of RJ Corp
Varun Beverages remains the most valuable pillar of Jaipuria’s empire, followed closely by his fast-food businesses under Devyani International. The success of these two sectors, combined with strategic investments in healthcare and hospitality, has helped him create a resilient and diversified conglomerate.
Sources of Wealth
Ravi Kant Jaipuria’s total holdings are valued at approximately Rs. 1.56 lakh crore ($17.3 billion) as of the end of 2024. His wealth comes from a combination of listed companies, franchise operations, and stakes in healthcare and hospitality businesses. Here’s a breakdown of his major holdings:
Varun Beverages Ltd
Varun Beverages Limited, founded in 1995 and based in Gurugram, manufactures, bottles, sells, and distributes beverages and snacks under PepsiCo brands across India and several international markets including Sri Lanka, Nepal, and multiple African countries. Its portfolio includes carbonated drinks (Pepsi, Mountain Dew, Mirinda, 7UP), juices and fruit drinks (Tropicana, Slice, Nimbooz), energy and sports drinks (Sting, Rockstar, Gatorade, Reboost Energy), ice-tea and packaged water (Lipton, Aquafina, Aquavess), snacks (FritoLay, Cheetos, Doritos, Simba, Kurkure), and dairy-based beverages (Cream Bell).
As of December, 2025 Ravi Kant Jaipuria holds a 16.71 percent stake (56.5 crore shares) and RJ Corp Ltd holds 25.28 percent stake (85.5 crore shares) in Varun Beverages Ltd. Since its IPO in 2016, the company’s share price has grown 19 times from Rs. 23 to CMP of Rs. 493, which has been the biggest driver of Jaipuria’s wealth.
Devyani International Ltd
Devyani International Limited, incorporated in 1991 and based in Gurugram, operates and manages quick service restaurants and food courts across India, Nepal, Nigeria, Thailand, and other international markets. The company runs outlets under popular brands such as KFC, Pizza Hut, Costa Coffee, Vaango, and others. It is a subsidiary of RJ Corp Limited.
As of September, 2025 Ravi Kant Jaipuria holds a 0.17 percent stake (21.14 lakh shares) and RJ Corp Ltd holds 57.98 percent stake (71.48 crore shares) in Devyani International Ltd. RJ Corp is currently overseeing a merger where Devyani International will absorb Sapphire Foods, further expanding its network and consolidating its presence across India.
Sapphire Foods operates KFC and Pizza Hut outlets in India. Through the merger with Devyani International, this business will became a part of Jaipuria’s fast-food empire, strengthening his reach in the QSR sector.
Global Health Ltd
Global Health Limited, founded in 2004 and based in Gurugram, provides comprehensive healthcare services in India through its Medanta hospital network. Its offerings cover specialties such as cardiac, cancer, liver and lung transplants, neurosciences, orthopaedics, paediatrics, obstetrics, ENT, ophthalmology, dermatology, and more. The company also provides telemedicine, e-ICU, homecare, eldercare, diagnostics, lab tests, air ambulance services, pharmacy trading, and healthcare education, delivering a full spectrum of medical and wellness solutions.
As of December, 2025 RJ Corp Ltd holds a 6.59 percent stake (1.77 crore shares) in Global Health Ltd. This adds a healthcare dimension to his portfolio, providing diversification beyond consumer brands.
Capital India Finance Ltd
Capital India Finance Limited, incorporated in 1994 and based in Mumbai, is an NBFC offering lending and forex services in India. Its products include small business and retail loans, loans against property, and digital payment solutions via RapiPay. As of September, 2025 RJ Corp Ltd holds a 4.89 percent stake (1.9 crore shares) in Capital India Finance Ltd.
Cosmo Ferrites Ltd
Cosmo Ferrites Limited, founded in 1985 and based in New Delhi, manufactures and sells soft ferrite cores for applications in electric vehicles, automotive, solar inverters, lighting, medical, railway, telecommunications, and more. The company also produces pre-calcined ferrite powder and exports its products to the UK, Europe, USA, New Zealand, Israel, Turkey, Thailand, Malaysia, China, Sri Lanka, and other international markets. As of September, 2025 RJ Corp Ltd holds a 1.66 percent stake (2 lakh shares) in Cosmo Ferrites Ltd.
Ester Industries Ltd
Ester Industries Limited, founded in 1985 and based in Gurugram, makes and sells polyester films, specialty polymers, and recycled PET in India and abroad. Its products are used in food and beverage packaging, textiles, automotive, electronics, and industrial applications. The company also exports its products and is a subsidiary of Wilemina Finance Corporation. As of December, 2025 RJ Corp Ltd holds a 2.71 percent stake (26.42 lakh shares) in Ester Industries Ltd.
Other Investment
Apart from the major listed companies, RJ Corp also holds stakes in several unlisted businesses across different sectors. These unlisted ventures diversify the group’s portfolio, provide additional revenue streams, and support long-term growth opportunities.
Legacy and Vision
Ravi Kant Jaipuria’s journey reflects a rare combination of strategic partnerships, market foresight, and disciplined expansion. As RJ Corp continues to consolidate its position in the fast-food and beverage sectors, Jaipuria’s vision is to maintain steady growth while exploring new avenues in India and abroad, ensuring his family business remains a significant force for decades to come.
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