Jubilant Foodworks Limited to invest Rs. 92 crores in Barbeque-Nation Hospitality Limited for a 10.76% stake

Jubilant Foodworks Limited (JFL), the largest foodservice company in India, today announced an investment of Rs. 92 crores into Barbeque-Nation Hospitality Limited (BNHL) for an equity stake of 10.76%.

Towards this end, the Company has entered into a Share Subscription Agreement to acquire equity shares and a Restated Shareholders' Agreement to regulate the rights and obligations of BNHL's key shareholders.

BNHL operates Barbeque Nation (BBQ) an Indian cuisine, casual dining Brand which introduced the concept of live grilling of Kebabs to the Indian market. It owns and operates 138 Barbeque Nation Restaurants in 73 cities in India and 7 International Barbeque Nation Restaurants (as of 30 November, 2019). It also has a presence in the Italian cuisine segment under the brand, Toscano.

Mr. Shyam S. Bhartia, Chairman and Mr. Hari S. Bhartia, Co-Chairman, Jubilant Foodworks Limited said, "We are happy to announce our investment in Barbeque Nation - a differentiated, casual dining restaurant brand of scale with strong unit economics. We are confident that the proposed investment will create value for our shareholders."

Shares of Jubilant FoodWorks Ltd was last trading in BSE at Rs.2684.8 as compared to the previous close of Rs. 2702.65. The total number of shares traded during the day was 22485 in over 1190 trades.

The stock hit an intraday high of Rs. 2723.6 and intraday low of 2668. The net turnover during the day was Rs. 60507518.

Source : Equity Bulls

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