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Jubilant Foodworks' initial stock offering soars
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ClaudeDomino's Pizza'sIndian franchisee outfit Jubilant Foodworks Ltd. saw its first Mumbai stock trading rise as much as 43.4 percent, according toBusinessWeek.
From BusinessWeek:
The shares gained 41 percent to 204.35 rupees [U.S. $4.37] at 2:04 p.m. local time after rising as high as 207.9 rupees [ U.S. $4.44].Jubilant's initial public offer price was 145 rupees [U.S. $3.10]. The sale received demand for about 31 times the shares on offer last month.
India is one of Domino's fastest-growing markets.
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