Jubilant FoodWorks informed in a September 26 exchange filing that it had acquired a 29.24% stake in Roadcast Tech Solutions Private Limited on a fully diluted basis.

The acquisition of the remaining 10.58% stake (on a fully diluted basis) may be completed on October 26, 2022.
The exchange filing says: “This is a continuation of our earlier letter dated July 28, 2022, regarding the acquisition of a 40% stake in Roadcast Tech Solutions Private Limited (Roadcast) on a fully diluted basis. As of September 26, 2022, the company has acquired a 29.42% stake in Roadcast (on a fully diluted basis), and under the Roadcast agreement, the acquisition of the remaining 10.58% stake (on a fully diluted basis) may be completed by October 26, 2022.”

Jubilant FoodWorks entered into a share subscription agreement, shareholder agreement and share purchase agreement on July 28, 2022, to acquire a 40% (fully diluted) stake in Roadcast. This logistics platform manages last-mile delivery operations. Its delivery automation SaaS platform helps customers monitor fleets and people in real time.

The investment reflects the company’s intention to invest strategically in promising start-ups and emerging businesses. It aligns with the stated goal of building a technology-powered multi-brand and multinational food business.