Jubiliant Foodworks fixes IPO price band at Rs 135-145

Jubiliant Foodworks, which operates largest pizza chain Domino's in domestic market, today fixed the price band for its proposed initial public offering (IPO) at Rs 135-145 per share.

Jubiliant plans to sell 2.2 crore equity shares of Rs 10 each for a cash at a price to be exercised through a 100 per cent book-building process. The issue opens on January 18 and closes on January 20.

At the upper end of the price band, Jubiliant plans to raise Rs 329 crore through the sharesale. Kotak Mahindra capital is acting as the sole book running lead manger to the issue.

The proceeds will be used to fuel the company's expansion in domestic and global markets and repay Rs 35-crore of debts, Jubiliant CEO, Ajay Kaul told reporters here.

Jubiliant plans to open 65-70 standalone stores this year and will employ 25 staff per store.

Presently, the company employs 9,460 people.

The company, which had opened 33 stores last fiscal, runs 274 stores in India and 5 in Sri Lanka.