Jubilant FoodWorks stock surged after the company announced the partial acquisition of compulsory convertible debentures (CCDs) and equity shares in O2 Renewable Energy XVI Pvt Ltd (O2).
The company, earlier in January, 2024 informed about acquisition of up to 6.32 per cent stake in O2.
On April 29, 2024 the company acquired 20,484 CCDs of face value ₹1,000 each and 2,27,603 equity shares of face value ₹10 each in O2.
The acquisition of remaining securities is likely to be completed on or before June 30, 2024 according to the stock exchange filing.
The stock traded higher by 6.25 per cent on the NSE at ₹466.50 as of 2.23 pm.