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| Jubilant Foodworks to raise up to Rs 300 cr via IPO |
| Press Trust of India / New Delhi Oct 12, 2009, 19:59 IST |
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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.
The company would offer more than 2.27 crore shares having a face value of Rs 10 each through the IPO, according to the Draft Red Herring Prospectus (DRHP) filed by it.
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.
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