Nestle has dismissed reports it is planning to increase its stake in its Indian arm.

The Kit Kat maker is understood to be looking to raise the stake in Nestle India to 75% from its current share of 62.76%, local newspaper The Financial Express claimed, citing three people familiar with the development.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

The company is intending to increase the stake for a price not higher than INR6,250 per share, the publication noted. That would value the transaction at INR74bn (US$1.18bn).

However, speaking to just-food today (28 November), a spokesperson for Nestle in Switzerland denied the report. “Currently we have no plans to increase our stake in Nestlé India.”

Nestle opened its first R&D facility in India in December last year, its latest move to have more sites looking at innovation located in emerging markets.

The company invested CHF50m (US$52.7m) in the centre, which is located in Manesar close to Nestle’s local headquarters in Gurgaon, south-west of the capital New Delhi.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now