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.
