Just Eat, the UK-based online food ordering service no longer has control over JustEat.in (Achindra Online Marketing), a company that it acquired controlling stake in 2011. According to the IPO prospectus published by JustEat UK (read it here), the company relinquished control over JustEat.in last year, in November 2013, when Axon Partners Group and Forum Synergies India invested in the Indian entity. With this, Just Eat UK's shareholding in the venture reduced to 59%, and its voting rights decreased to 49.9%. The amount of money invested in JustEat.in by Axon Partners and Forum Synergies has not been disclosed. Just Eat & HungryZone (later, JustEat.in) Just Eat UK had acquired 33% in HungryZone (later JustEat.in) in January 2011, paying £188,000 for the acquisition then. HungryZone's turnover for 2011 was GBP 58,000, at a loss of £90,000. JustEat increased its stake to 67% through planned investments throughout 2011. During 2012, its shareholding increased to 84%, and over the course of 2013, it increased to 91%, prior to the fund raising in November 2013. Just Eat recorded goodwill impairment charges of £125,000 in 2012 for the India operations, Note that for the year ended 31st December 2013, JustEat UK recorded a profit of GBP 281,000 on the deemed disposal of Achindra Online Marketing, which owns JustEat.in. JustEat UK IPO Just Eat closed at 277.81 pence per share on the day it made its debut on the London Stock Exchange, up 6.85% from its issue price of 260 pence per share. During the day, it went up to a peak of 296.90 pence per…
