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16 October, 2021 19:29 IST
Jubilant FoodWorks to acquire 25% stake in Wellversed Health
Source: IRIS | 23 Sep, 2021, 06.15PM
Rating: NAN / 5 stars.
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Jubilant FoodWorks, operator of Dominos pizza stores, has entered into Share Subscription Agreement and Shareholders' Agreement both dated Sep. 22, 2021 to acquire 25.02% stake in Wellversed Health for Rs 100 million.

The company will make the investment in two tranches. In the first tranche, Jubilant Foodworks will invest Rs 65 million, and the second tranche, which will be disbursed nine months later, will have Rs 35 million.

"This investment reflects the Company’s intent of making strategic investments in promising start-ups and emerging businesses and is in line with the stated goal of building a multi-brand and multi-country food business powered by technology," Jubilant FoodWorks said.

Wellversed Health is a Gurgaon-based nutrition company offering a variety of food products tailored for specific nutrition and dietary needs including keto, gluten-free, vegan, high-protein, diabetic and immunity. Net Revenue of Wellversed in FY 2020 stood at Rs 48.9 million.

Shares of the company gained Rs 67, or 1.63%, to settle  at  Rs 4,177.  The total volume of shares traded  was 99,750 at  the BSE (Thursday).

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