Jubilant Foodworks Ltd to increase stake in Jubilant Golden Harvest Limited to 90%

Pursuant to Share Subscription and Shareholders' Agreement ("Agreement") dated March 6, 2018 executed between Jubilant Foodworks Ltd. ('JFL'), Jubilant Golden Harvest Limited ('JGHL') and Golden Harvest QSR Limited ('Golden Harvest'), JFL has exercised a call option for acquiring 39% equity stake in JGHL from Golden Harvest. Post-acquisition, JFL shall own 90% (ninety per cent) of the total shareholding of JGHL and Golden Harvest shall own remaining 10% (ten per cent) of the total shareholding of JGHL.

Jubilant Golden Harvest Limited ('JGHL') is a subsidiary of Jubilant Foodworks Limited ('Company') and has the franchise rights to develop and operate Domino's Pizza restaurants in Bangladesh. As on June 30, 2021, JGHL has seven restaurants.

Shares of Jubilant Foodworks Limited was last trading in BSE at Rs. 4056.9 as compared to the previous close of Rs. 4072.7. The total number of shares traded during the day was 12226 in over 2184 trades.

The stock hit an intraday high of Rs. 4129.95 and intraday low of 4026.15. The net turnover during the day was Rs. 49708542.

Source : Equity Bulls

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