Jubilant FoodWorks' stake reduces in Hashtag Loyalty Pvt Ltd

Hashtag Loyalty Private Limited ("Hashtag"), associate of Jubilant FoodWorks Limited ("Company") has entered into a Securities Subscription Agreement dated April 17, 2023 with Coca-Cola India Private Limited ("New Investor") pursuant to which the New Investor has acquired 15% stake (on a fully diluted basis) in Hashtag ("Transaction"). Accordingly, the Company's stake in Hashtag has reduced from 35% to 29.75% (on a fully diluted basis). Hashtag has raised the capital at a pre-money valuation of Rs. 104.68 crore.

As part of the transaction, the Company has entered into a Shareholders Agreement dated April 17, 2023 with Hashtag, New Investor and other existing investors of Hashtag and there is no adversarial change in the rights granted to the Company as enunciated in the stock exchange disclosure by the Company dated October 27, 2021, at the time of acquisition of the initial stake.

Source : Equity Bulls

Keywords

JubilantFoodWorks StakeReduction HashtagLoyalty