Jubilant Foodworks to incorporate subsidiary in Nepal for Domino's Pizza biz

22 Nov 2022 , 09:19 AM

Jubilant Foodworks Ltd has informed that the Board of Directors of Jubilant FoodWorks International Luxembourg, a step down wholly owned subsidiary of the Company on November 21, 2022 has inter-alia approved incorporation of a wholly owned subsidiary company in Nepal.

As per the filing, Nepal Subsidiary shall have the exclusive right to develop and operate Domino‘s Pizza stores in the territory of Nepal.

It is proposed to make initial capital contribution of sixty million Nepalese rupees (NPR 60,000,000) (equivalent to Rs37,002,000/- as per exchange rate on November 20, 2022) and the Nepal Subsidiary is yet to be incorporated, the company said on Monday.

On Tuesday, at around 9:19 AM, Jubilant Foodworks Ltd is currently trading at Rs542.40 per share up by Rs5.8 or 1.08% from its previous closing of Rs536.60 per share on the BSE.

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