Fidelity buys Rs 49-crore shares in Jubilant FoodWorks

Fidelity Common Wealth Trust on Wednesday acquired 3.71 lakh shares of food services company Jubilant FoodWorks for an estimated Rs 48.90 crore through open market route.

According to 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 Domino's 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 a 2.78 per cent jump in standalone net profit at Rs 33.24 crore for the quarter ended September 30, 2013.

Jubilant FoodWorks chief executive Ajay Kaul had said the firm would open 135 Domino's Pizza stores and 20 Dunkin' Donuts stores this fiscal year (FY14) and would make a capex of up to Rs 250 crore.

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