Coca-Cola India To Acquire 15% Stake In Jubilant FoodWorks' Associate Hashtag Loyalty

Coca-Cola India has entered into a share subscription agreement with Jubilant FoodWorks' associate Hashtag Loyalty to acquire a 15% stake in the company.

Hashtag has raised the capital at a pre-money valuation of Rs 104.68 crore, according to an exchange filing.

Consequently, Jubilant FoodWorks' stake in Hashtag has reduced from 35% to 29.75%, the company said.

".. there is no adversarial change in the rights granted to the Company as enunciated in the stock exchange disclosure by the company dated Oct. 27, 2021, at the time of acquisition of the initial stake," it said.

Hashtag Loyalty enables businesses to capture first-party customer data via different touchpoints. It provides customer engagement and retention technology services for retail and hospitality businesses.