Mumbai: The Indian franchisee of Domino’s Pizza is considering an IPO to enable JPMorgan cash in its 33% private equity investment, the Economic Times reported on Wednesday, citing three people familiar with the development.
India’s Jubilant group, which owns the remaining 67% in the franchisee, plans to add 70 stores this year to its 275 store chain, the newspaper said.
Domino’s Pizza does not own a stake in the Indian franchisee.
“An IPO is one of the options we are looking at, but it is for the private equity partner to decide,” the paper quoted Shyam Bhartia, a co-founder of the Jubilant group, as saying.
Officials at JPMorgan and Jubilant group could not be immediately reached for comment.