Jubilant FoodWorks inches up on acquiring 29.42% stake in Roadcast
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Jubilant FoodWorks is currently trading at Rs. 604.70, up by 2.35 points or 0.39% from its previous closing of Rs. 602.35 on the BSE.
The scrip opened at Rs. 606.55 and has touched a high and low of Rs. 615.00 and Rs. 603.85 respectively. So far 14945 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 915.49 on 13-Oct-2021 and a 52 week low of Rs. 451.60 on 12-May-2022.
Last one week high and low of the scrip stood at Rs. 647.00 and Rs. 581.30 respectively. The current market cap of the company is Rs. 39745.78 crore.
The promoters holding in the company stood at 41.94%, while Institutions and Non-Institutions held 47.14% and 10.92% respectively.
Jubilant FoodWorks has acquired 29.42% stake (on fully diluted basis) in Roadcast Tech Solutions (Roadcast) and the acquisition of remaining 10.58% stake (on fully diluted basis) is likely to be completed by October 26, 2022 as agreed with Roadcast.
Earlier, in July this year, the company had entered into Share Subscription agreement, Shareholders’ agreement and Share Purchase agreement dated July 28, 2022 to acquire 40% stake (fully diluted basis) in Roadcast Tech Solutions. This investment reflects the Company’s intent of making strategic investments in promising start-ups and emerging businesses and is in line with the stated goal of building a multi-brand and multi-country food business powered by technology.
Jubilant FoodWorks is India’s largest and fastest growing food service company. The company and its subsidiary operates Domino’s Pizza brand with exclusive rights for India, Nepal, Bangladesh and Sri Lanka.
