Brands
Sip happens as TOVA gets a wellness boost from the Poonawallas
MUMBAI: When heritage meets herb, the result is a wellness wave in a bottle. In a move that blends Ayurvedic wisdom with cutting-edge consumer health innovation, Yohan and Michelle Poonawalla have poured capital and confidence into TOVA, a mass-premium beverage brand known for its immunity-boosting, herb-infused packaged water. The strategic investment by the Poonawalla Group signals a bold endorsement of India’s evolving wellness market, where ancient traditions are being smartly reimagined for modern palates.
Founded in 2022 by Lakshmi and PS Srinivasan under Ayushkalki Wellness, TOVA has been bottling centuries of Ayurvedic knowledge into light, flavourful sips aimed at daily immunity and wellbeing. With formulas backed by R&D from top Indian food tech institutes, the brand champions a more inclusive, mass-premium approach to healthy hydration without the synthetic buzzwords or elitist price tags.
“Investing in TOVA is an extension of our belief in promoting a healthier future,” said Poonawalla Group chairman Yohan Poonawalla. “We are excited to support ventures that combine traditional wisdom with modern innovation. TOVA’s vision of bottling the benefits of Ayurveda in a convenient and appealing form is perfectly aligned with today’s wellness-conscious consumer, and we look forward to mentoring and supporting their journey towards becoming a household name.”
The Poonawallas’ interest in health, sustainability and innovation is well documented spanning sectors from engineering to green energy. With this new backing, TOVA is poised to scale up R&D, expand its distribution, and step more confidently into India’s health-forward mainstream.
“We see immense potential in TOVA’s unique approach to health and wellness. Their focus on research, quality, and innovation resonates with our values. This partnership not only aligns with our broader commitment to sustainability and wellness but also provides an opportunity to impact lives positively on a mass scale,” said Poonawalla Group director Michelle Poonawalla.
From school runs to boardrooms, wellness is no longer niche and TOVA taps directly into that shift. Whether it’s Ashwagandha-infused water for calm or Tulsi-laced hydration for immunity, the brand offers functional, natural solutions in a form that fits busy, urban lives.
“We are deeply honoured to have the support of the Poonawalla Group,” said TOVA co-founders Lakshmi and PS Srinivasan. “Their belief in our vision and commitment to nurturing innovation will play a critical role in accelerating TOVA’s growth. This partnership empowers us to strengthen our R&D, expand our distribution, and deepen our impact on promoting everyday wellness.”
With 14 million households now actively seeking Ayurvedic solutions, the timing couldn’t be better. And with the Poonawallas on board, TOVA isn’t just riding the wellness trend, it’s bottling a movement.
Wellness just got a new signature flavour and it’s Poonawalla-approved.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
