Jubilant FoodWorks gains on getting nod to make investments upto Rs 40 crore in JFN
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Jubilant FoodWorks is currently trading at Rs. 602.30, up by 4.85 points or 0.81% from its previous closing of Rs. 597.45 on the BSE.
The scrip opened at Rs. 594.55 and has touched a high and low of Rs. 604.10 and Rs. 594.55 respectively. So far 12453 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 715.15 on 23-Sep-2024 and a 52 week low of Rs. 420.85 on 14-Mar-2024.
Last one week high and low of the scrip stood at Rs. 604.95 and Rs. 559.00 respectively. The current market cap of the company is Rs. 39590.71 crore.
The promoters holding in the company stood at 41.94%, while Institutions and Non-Institutions held 51.38% and 6.67% respectively.
Jubilant FoodWorks has received approval for making investments upto Rs 40 crore (or its equivalent in Euro) in Jubilant Foodworks Netherlands B.V. (JFN), wholly owned subsidiary of the company in Netherlands.
The proposed investment in JFN will be utilised primarily towards funding the interest payments on credit facilities availed by JFN from The Hongkong and Shanghai Banking Corporation for acquisition of stake in DP Eurasia N.V. and for general corporate purposes. The said transaction is expected to be completed on or before June 30, 2025.
The Investment Committee of the company in its meeting held on November 07, 2024 has approved the same.
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.
