Jubilant Foodworks IPO Subscribed 3.46 times on 2nd Day
Jubilant Foodworks IPO was subscribed 3.46 times at the end of the second day of the issue on NSE on Tuesday, 19 January 2010. The IPO received bids for 6.78 crore shares as against 1.96 crore shares on offer. The issue closes on 20 January 2010.
At the issue price of Rs 135-145, on the EPS of Rs 1.1 for FY 2009, the PE works out to 123 to 132 times. However, the PE based on annualized EPS of Rs 3.8 for the six months ended September 2009, works out to 35 to 38 times.
Jubilant Foodworks, the exclusive franchisee for Domino’s Pizza chain in India, plans to use the funds to prepay term loans and for other general corporate purposes. The company currently operates over 280 Domino’s Pizza outlets across 59 cities in the country. It also has five outlets through sub-franchisee in Sri Lanka and is looking at establishing presence in Nepal and Bangladesh.
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