Jubilant FoodWorks has entered into a Share Subscription and Shareholders’ Agreement with Jubilant FoodWorks Lanka (Private) (Jubilant Sri Lanka), wholly owned subsidiary of the company, to subscribe 95,271,430 Optionally Convertible Non-Cumulative Preference Shares (OCPS) of Jubilant Sri Lanka, at LKR (Sri Lankan rupee) 7 per OCPS, for an aggregate consideration of LKR 666,900,010 (equivalent to around Rs 19 crore, subject to foreign exchange fluctuations).
The proposed investment in Jubilant Sri Lanka will be utilized for business operations/expansion including capital expenditure. The said investment is expected be completed on or before 3 months.
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.
