Jubilant FoodWorks Defers Buying Rest Of O2 Renewables Energy Stake Till July 31
The decision comes after discussion with O2 Renewables based on certain regulatory requirements. The earlier date to complete the acquisition was set for June 30.
Jubilant FoodWorks Ltd. has postponed its acquisition of the remaining stake in O2 Renewable Energy Pvt. until July 31.
The decision comes after discussion with O2 Renewables based on certain regulatory requirements, according to an exchange filing on Saturday. The earlier date to complete the acquisition was set for June 30.
The company, which operates fast-food chains Domino's and Dunkin' Donuts, received approval in January to enter into a power purchase agreement and security subscription and shareholder agreement with O2 Renewable Energy XVI, a wholly-owned subsidiary of O2 Energy SG, Singapore. Jubilant FoodWorks was to acquire a 6.32% stake in the wholly owned subsidiary of Singapore-based O2 Energy SG to purchase renewable energy power generated from the Captive Generating Plant.
As per the agreement, the company in March acquired 20,484 compulsorily convertible debentures and 2,27,603 equity shares.
Jubilant FoodWorks's
Aided by exceptional item gains, Jubilant reported a sevenfold increase in its consolidated net profit to Rs 208.2 crore in the fourth quarter ended March 2024. Its revenue was up 24% at Rs 1,573 crore against Rs 1,270 crore from the same period in the previous year.
