Mumbai, Feb. 8: The shares of Jubilant Foodworks, the Indian franchisee of Domino’s Pizza Inc, leapt 58 per cent when they closed at Rs 229 on the first day of trading at the counter.

Investors had bought the stock at Rs 145 a share in the recent IPO.

Jubilant was heavily traded on the Bombay Stock Exchange with a total turnover of 3.18 crore shares that sent the stock rocketing to Rs 241.95 at one stage.

“It was a very hot deal and investors are bullish about the company’s prospects,” said a Mumbai-based trader.

The Street said the stock price surged on listing as the anchor investors such as Fidelity and Templeton who got a small piece of action before listing — as the issue size was small — wanted to buy once it listed to make their positions more meaningful.

Jubilant, a Noida-based company that operates 296 Domino’s pizza delivery stores in the country, expects to open 65 new stores in the current financial year ending March 31.

The company also posted its financial results on Monday and showed a more than six-fold jump in net profit for the third quarter of this fiscal.

The pizza chain franchisee that has a market share of over 50 per cent reported a net profit of Rs 11.37 crore in the three months ended December 31, 2009 compared with Rs 1.8 crore in the corresponding previous period. Sales in the third quarter were Rs 117 crore compared with Rs 78 crore in the same period last year.