Rajshree Upadhyaya | Jaipur | Business Remedies | Jain Shikanji’s journey is a remarkable tale of tradition meeting modern ambition. It all began in 1957 in Modinagar, a Uttar Pradesh town where Parmatma Sharan Jain crafted a beverage that soon became synonymous with summer refreshment across North India. His secret blend of spices, including black pepper, cloves, and pomegranate seeds, made this shikanji unique and addictive. It quickly grew beyond just a drink to become a vital part of India’s culinary culture, with travelers and locals alike flocking to taste it, drawn to its tangy, spicy flavor and the sense of nostalgia it evoked.
While the brand flourished in its hometown, it remained a traditional, family-run business. However, by 2017, with the rise of digital commerce and changing consumer preferences, it became clear that the brand needed to evolve. Anubhav Jain, the third-generation leader, decided to modernize Jain Shikanji while preserving its heritage. He founded HBMB Foods Pvt. Ltd., setting in motion a plan to expand the brand beyond its local roots. With products like instant shikanji masala, thandai powders, pickles, and various spice mixes, he sought to appeal to a broader, urban audience. By listing these products on online platforms such as Amazon, he successfully brought the taste of Modinagar to homes across India.
The turning point came in February 2022 when Anubhav appeared on Shark Tank India. He pitched Jain Shikanji to some of the country’s most prominent investors, asking for Rs. 40 lakh in exchange for 8% equity. His passionate presentation highlighted not only the brand’s rich history but also its potential for nationwide growth. The sharks were impressed with the authenticity of the product and its legacy. However, concerns over family disputes, brand ownership, and trademark issues led to a tense negotiation. Despite these issues, four sharks, Aman Gupta, Vineeta Singh, Ashneer Grover, and Anupam Mittal, offered Rs. 40 lakh for a 30% stake, lowering the company’s valuation to Rs. 1.33 crore. Though the deal did not close, the exposure from the show proved to be invaluable.
In the wake of Shark Tank, Jain Shikanji took the feedback to heart, shifting its strategy. The brand opted for a franchise model to scale more rapidly while strengthening its e-commerce presence. Anubhav and his team also expanded the product range, introducing more spice mixes and beverages, and extended their reach to states like Gujarat and Maharashtra. Financially, the brand continued to grow, with estimated revenues reaching between Rs. 1 crore and Rs. 3 crore annually by 2024.
Despite challenges, including unauthorized vendors using the Jain Shikanji name, the brand’s projected valuation soared, with expectations to reach Rs. 40 crore by 2025. Jain Shikanji stands out in a crowded marketplace due to its steadfast commitment to authenticity. While many competitors alter their recipes to appeal to broader tastes, Jain Shikanji has stayed true to its original 1957 formula. The secret masala, a perfect blend of spices that creates its signature tangy, spicy, and refreshing taste, remains its greatest asset.
This dedication has fostered deep brand loyalty, distinguishing Jain Shikanji from industry giants like MDH, Everest, and Pushp. Anubhav’s vision for Jain Shikanji is both ambitious and rooted in tradition. He plans to expand the brand through a nationwide franchise network and tap into international markets, particularly catering to the Indian diaspora. Jain Shikanji’s mission remains unchanged: to deliver the same authentic, flavorful experience that Parmatma Sharan Jain created more than six decades ago.
Today, Jain Shikanji is a shining example of how a family-run, heritage brand can evolve, scale, and thrive in a modern business environment without sacrificing its essence. From its modest beginnings in Modinagar to becoming a household name, the journey of Jain Shikanji embodies the enduring power of tradition, innovation, and passion. As people across India and beyond raise a glass of that spiced, refreshing lemonade, they’re not just enjoying a drink, they’re savoring a legacy.
Written & Edited By:
Rajshree Upadhyaya
