Fidelity buys Jubilant FoodWorks shares for Rs 48.9 crore

MUMBAI: Fidelity Common Wealth Trust today acquired 3.71 lakh shares of food services company Jubilant FoodWorks for an estimated Rs 48.90 crore in the open market.

According to the bulk deal information with the stock exchanges, Fidelity Common Wealth Trust Fidelity Mid-Cap Stock Fund, a shareholder of Jubilant FoodWorks, purchased 3,71,601 shares of the food services firm.

The shares were bought at an average price of Rs 1315.71 apiece, bringing the transaction value to nearly Rs 48.90 crore.

As on quarter ending September 2013, Fidelity held 7.68 lakh shares of Jubilant FoodWorks representing a 1.18 per cent stake in the company.

Jubilant FoodWorks operates Dominos Pizza and Dunkin' Donuts chains in India. It has a network of 650 Domino's Pizza restaurants as of October 31, 2013.

The company had reported 2.78 per cent jump in standalone net profit at Rs 33.24 crore for the second quarter ended September 30, 2013.

Jubilant FoodWorks CEO Ajay Kaul had said the firm would open 135 Dominos Pizza stores and 20 Dunkin' Donuts stores in this fiscal and would make a capex of up to Rs 250 crore.

Shares of Jubilant FoodWorks ended the day at Rs 1298.05 apiece, down 4.60 per cent from their previous close, on the BSE.