Domino's franchisee Jubiliant Foodworks fixes IPO price band at Rs135-145

Jubiliant Foodworks, franchisee of the pizza chain Domino's in India said today that it has fixed the price band for its proposed initial public offering of 22,670,447 equity shares at Rs135-145 per share.

The company hopes to raise upto Rs329 crore through this issue, which will open for subscription on 18 January and closes on 20 January 2010.

Jubiliant is offering 22,670,477 equity shares of face value of R10 each aggregating Rs329 crore at the upper end and Rs308 crore at the lower end of the price band.

The company offer comprises of a fresh issue of 4,000,000 equity shares, and an offer for sale of 18,670,447 equity shares by the India Private Equity Fund (Mauritius) and Indocean Pizza Holding Limited.

Jubilant Enpro Private Limited and Weston Investment, the promoters of the company hold 58.23 per cent and 8.13 per cent stake respectively, while the selling shareholders, the India Private Equity Fund holds hold 20.17 per cent and Indocean 11.20 per cent.

Jubiliant Foodworks operates over 280 Domino's Pizza outlets in 59 cities in the country and has 5 outlets in Sri Lanka operating through sub-franchisees. It is also looking at expanding its operations in Nepal and Bangladesh.

Domino's International has recently extended its contract for another 15 years with Jubiliant Foodworks, which hopes to add another 300 new outlets.
Kotak Mahindra Capital Company is the book running lead manager to the issue and Link Intime India Pvt Ltd is the registrar.