Food services company Jubilant Foodworks has received approval from its board to set up a subsidiary to run Domino's Pizza business in Nepal, the company said on Monday.

The subsidiary will be set up under Jubilant FoodWorks International Luxembourg.

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"The Board of Directors of Jubilant FoodWorks International Luxembourg, a step down wholly owned subsidiary of the Company on November 21, 2022, has inter-alia approved the incorporation of a wholly owned subsidiary company in Nepal," the company said in a regulatory filing.

The company has not yet decided the name of the subsidiary.

"Nepal Subsidiary shall have the exclusive right to develop and operate Domino's Pizza stores in the territory of Nepal," the filing said.

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