Jubilant Food's anchor investors buy add'l stake on debut

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Jubilant Food's anchor investors buy add'l stake on debut

Dominos fast food retail chain operator in India, Jubilant FoodWorks has witnessed huge buying interest on the first day. It has witnessed 73 bulk deals on the exchanges, including 50 deals on NSE and 23 on BSE.

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Domino's fast food retail chain operator in India, Jubilant FoodWorks , has witnessed huge buying interest on the first day. The share closed at Rs 240.60, at a 65.93% premium over its issue price of Rs 145 on the NSE.

It has witnessed 73 bulk deals on the exchanges, including 50 deals on NSE and 23 on BSE.

The anchor investors, who had invested Rs 44 crore in Jubilant Foodworks' IPO, bought more shares in bulk deals on listing day. Capital Group - A/c Small Cap World Fund bought shares worth Rs 43.29 crore, Arisaig India Fund Rs 23.43 crore, T Rowe Price International Inc A/c T Rowe Price New Asia Fund Rs 10.5 crore and Reliance Capital Trustee Co Ltd bought Rs 11.9 crore. In total, they have bought over Rs 89 crore worth of shares from the open market on Monday.

Comments from company's CEO also looked promising. In an interview with CNBC-TV18, Jubilant's CEO Ajay Kaul said the company saw a lot of headroom for growth. "The consumption of pizzas in India is quite low - only about 2% of the overall food market. We are looking at expanding the market by improving penetration," Kaul said, adding that Domino's would increase the number of its stores aggressively.

The company's PAT margin stood at 9.7% in the third quarter while the fourth quarter would see a margin of over 10%, the CEO said.

On the BSE, the share touched an intraday high of Rs 241.95 and low of Rs 161.60, before closing at Rs 229, up 57.93%.

The company has raised Rs 328.72 crore from initial public offering (IPO) of 22,670,447 equity shares. The issue was oversubscribed 31.11 times. The price band for the issue was at Rs 135-145.

Also check other bulk deals