HomeBusinessJubilant FoodWorks Acquires 25% Stake In Nutrition Firm Wellversed Health, Trades Lower

Jubilant FoodWorks Acquires 25% Stake In Nutrition Firm Wellversed Health, Trades Lower

Jubilant FoodWorks Acquires 25% Stake In Nutrition Company Wellversed Health

Shares of Jubilant FoodWorks had been final buying and selling 1.02 per cent decrease at Rs 4,134.50 on BSE

Leading fast service eating places operator and grasp franchise of manufacturers reminiscent of Domino’s Pizza and Dunkin’ Donuts – Jubilant FoodWorks acquired a 25 per cent stake in Gurgaon-based diet firm Wellversed Health. The meals service firm will make investments Rs 10 crore in Wellversed in two tranches, based on a latest regulatory submitting by the corporate to the inventory exchanges. 

The first tranche of Rs 6.5 crore will probably be invested on the deadline as outlined within the share subscription settlement and the second tranche of a sum of Rs 3.5 crore will probably be coated in a interval of 9 months – from the disbursement of the primary tranche, based on the assertion.

Wellversed Health affords quite a lot of meals merchandise that are customised for particular diet and dietary wants together with gluten-free, keto, vegan, high-protein, diabetic situations and common immunity. The internet income of Wellversed in fiscal 2019-20 was Rs 4.89 crore. The firm was included on August 10, 2017, as per the main points of the assertion. 

Some vital phrases of the settlement embrace that Jubilant FoodWorks can have the suitable to appoint one non-retiring director on the board (- one out of 4) of Wellversed, and an observer to the board.

On Friday, shares of Jubilant FoodWorks had been final buying and selling 1.02 per cent decrease at Rs 4,134.50 on the BSE. Jubilant FoodWorks opened on the BSE at Rs 4,199, registered an intra day excessive of Rs 4,199 and an intra day low of Rs 4,120, within the buying and selling session thus far.

On the NSE, Jubilant FoodWorks was final buying and selling 1.19 per cent decrease at Rs 4,131.35 apiece. 

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