Business Ideas
Jubilant Foodworks to raise up to Rs 300 cr via IPO
Jubilant Foodworks, which runs the Indian franchise for global fast food chain Domino"s Pizza, today filed an application with market regulator Sebi for an initial public offering (IPO) to raise up to Rs 300 crore. Sensex ends up 35pts It plans to raise up to Rs 300 crore from the IPO, market sources said. However, the company officials could not be contacted. Of the total shares on offer, a little over 2.04 crore shares would be for the public while the rest would be reserved for subscription by eligible employees of the company. Jubilant Foodworks would be using Rs 35 crore of the IPO proceeds to pay for loan facilities from the Central Bank of India and the Axis Bank. "The offer comprises a fresh issue of 40,00,000 equity shares by the issuers (Jubilant Foodworks) and an offer for sale of 1,86,70,477 equity shares by the India Private Equity Fund (Mauritius) and Indocean Pizza Holding," the DRHP said. According to the company, more than 71.41 lakh shares would be available for allocation to retail individual bidders. This portion would represent not less than 35 per cent of the total offer.Wine bars in Singapore commented:
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02.03.2012