Jubilant Foodworks Ltd has announced that its board has approved further investments of up to ₹25 crore (or its equivalent in Euro) in Jubilant Foodworks Netherlands B.V. (JFN), wholly owned subsidiary of the company.
As per the stock exchange filing, the proposed investment in JFN will be utilised towards funding the interest payments on credit facilities availed from The Hongkong and Shanghai Banking Corporation Limited for acquisition of stake in DP Eurasia N.V. and general corporate purposes.
The stock trades at ₹529.80 on the NSE, down by 0.59 per cent as of 2:22 pm.